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Updated about 13 years ago on . Most recent reply

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Au N
  • Anchorage, AK
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Real Estate LLCs and How to Run Them

Au N
  • Anchorage, AK
Posted

Hello All,

I'm new here, but have taken some time to read through this site for this question I have. Chances are, the answers here somewhere, but I couldn't find it. So I apologize in advance if I'm repeating a question.

Anyways, is there a good source of information on how to run a real estate LLC? So far, this is what I know, but I'm looking to fill in the gaps:

Form LLC (rule of thumb may be 1 per property or $300K)
Transfer dead to LLC
Create a business checking account for it
Keep a good divide between personal finances and LLC finances
To get money out of your investment, pay yourself a regular salary. Not use it as a piggy bank and withdraw whenever.

What else am I missing or should know?

Thanks for your help!

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