Updated almost 5 years ago on . Most recent reply
California Investor first steps - DST vs LLC
@Scott Smith or anyone else who can help let me know! Living in California and looking to get started BRRRRing out-of-state SFRs this year. Want to get everything organized and structured correctly from the beginning so that scaling is as easy and efficient as possible later on. From what I have read, my understanding is that the best way to do this is to create a single LLC to perform operations, and establish a DST to hold titles to properties in a series (please correct me if I misunderstand though!). I have a few questions relating to the actual process and first steps:
1. Which do I create first, the LLC or the DST?
2. Who should I contact first for help getting things up and running, a CPA or an attorney?
3. Do all the child trusts have to be identical and have the same people and involved? For example, would it be possible for 2 people to be invested in a property in one trust, and then have a third person invested with them in a different property/trust in the same series?
4. Is it possible/easy to remove one person from a property/trust later on?
Any help is appreciated, especially with the first two questions, feel sort of stuck trying to find the right first step at this point!