Hi, I’m curious to know what is a holding company and how do you start one? I currently own a multi family home and I want to get an investment property but would like to put it under a LLC but I keep hearing that it’s good to have a holding company if you decide to have multiple LLCs?

@Andy Rod You just have another llc own the other llcs which own the properties

@Caleb Heimsoth so I live in NY but I want to buy property in NJ...does it matter where I open the llc?

@Andy Rod it doesn’t matter but I suggest registering in the state of the property 

@Caleb Heimsoth got it...one last thing is it stupid to open my first llc in NY as my holding company and then another llc in NJ as another company under the holding company umbrella? Sorry to bug you my friend

@Andy Rod how many properties do you own?  Is what you’re wanting to buy next a commercial property?

If you own zero or very few you don’t need a llc.  You think you do, you don’t.

Good luck 

Originally posted by @Andy Rod :
@Caleb Heimsoth so I live in NY but I want to buy property in NJ...does it matter where I open the llc?

Not really matter, but to protect your assets and lower taxation better to open LLC in state where property located. And holding LLC in Wyoming or Nevada. This 2 states provide best assets protection policy.

@Caleb Heimsoth got it thanks bud!