Need Help in setting up LLC for Rental Properties Dallas Texas Area

[Rabinder Gill]

Hello, 

    I need help in setting up an llc for a few rental properites in the DFW area.  Please contact me. THank you 

[Fernando Corona]

@Rabinder Gill if you want to create a new LLC, here's a general outline of the steps involved in creating an LLC in Texas, along with some useful links. Here are the steps:

1. Come up with a cool name for your LLC. Make sure it's unique. You can check if the name is available on the Texas Secretary of State's website or do a search on Texas comptroller entity search, its free. use your entity with and without the "LLC" at the end. Like "FC Lending" and "FC Lending LLC"

https://mycpa.cpa.state.tx.us/...

2. You'll need a registered agent for your LLC. This person will handle official stuff for your company. You can hire a professional service like texasregisteredagent ($25-$50) or ask a friend (free). - Learn more about the registered agent requirements here: https://www.sos.state.tx.us/co...


3. Fill out and file the Certificate of Formation with the Texas Secretary of State. You can do it online pretty easily. - Here is the Texas Secretary of State's website with information and forms for filing: https://www.sos.state.tx.us/co... - click the file online hyperlink in there too

4. if its just you in the LLC, you can operate member managed or manager managed. its the same thing since you're the only member. something some banks or institutions will ask for if you ever use hard money or get a DSCR loan under your LLC. you can get an operating agreement off a rocketlawyer-like website.

5. Get an EIN (Employer Identification Number) from the IRS. It's like a social security number for your business. You can apply online through the IRS website. online application: https://www.irs.gov/businesses... - this can weirdly only be done during M-F business hours. idk why. lol and this is free btw. 

Hope this helps!!