LLC Formation and Deed Transfer

[Yee Elias]

Hello BP community, I'm in CA and am looking into forming an LLC for a long term rental I have in CA, and planning to acquire more.

It was recommended that I form it in Wyoming for the best protection and anonymity. However, I read that I would then have to pay the out state franchise fee AND the Wyoming fee (which is way less than California's).

Questions:

1) Do you know exactly how that would work? 

2) Also, I tried starting the process through IncFile but it asked for a physical address. It has a first year free registered agent service but still asked for that address, and I don't want to use my primary home, what are your recommendations? UPS mailbox? Is that acceptable? They will not accept a PO Box.

3) Once LLC is formed, do you know what is the best way to transfer the property to LLC without triggering a reassessment or changing any loan terms?

Anything else I should know? Thanks in advance! 

[Emond Hobbs]

Quote from @Yee Elias:

Hello BP community, I'm in CA and am looking into forming an LLC for a long term rental I have in CA, and planning to acquire more.

It was recommended that I form it in Wyoming for the best protection and anonymity. However, I read that I would then have to pay the out state franchise fee AND the Wyoming fee (which is way less than California's).

Questions:

1) Do you know exactly how that would work? 

2) Also, I tried starting the process through IncFile but it asked for a physical address. It has a first year free registered agent service but still asked for that address, and I don't want to use my primary home, what are your recommendations? UPS mailbox? Is that acceptable? They will not accept a PO Box.

3) Once LLC is formed, do you know what is the best way to transfer the property to LLC without triggering a reassessment or changing any loan terms?

Anything else I should know? Thanks in advance! 

Hello Yee! I started my LLC earlier this year here in Texas, but I am by no means a licensed expert. Regarding your second question I used a virtual address for my mailing & Physical address since I did not own a building. I used Anytimemailbox.com but be sure to look up the address on google to ensure they are not a mailing center as this will cause you problems if you try to receive funding for your LLC in the future. I would also stay away from P.O. Boxes since they too will raise red flags. Since you are doing it through a 3rd party they will provide their address for "registered Agent" since they are filing your documents but you can use the virtual address for mailing and physical. I hope this helps and good luck!