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Updated about 2 years ago on . Most recent reply presented by

User Stats

137
Posts
42
Votes
Jin Zhang
  • Rental Property Investor
42
Votes |
137
Posts

How should I set up LLC for my property?

Jin Zhang
  • Rental Property Investor
Posted

Hi everyone, 

I have some questions about how to set up LLCs for my properties and would love to learn more about your expert opinion. Currently, I have two rentals. One is in California (I currently live in this state but not in this property) and the other is is Atlanta. They are currently hold under my personal name. I would love to move them into LLCs. 

1) How should I set up LLCs for them? Should I set up one for each? 

2) Since I only have two properties, should I use online LLC services? I used a company to set up a LLC for financial service business in the past. They have set up a holding company in Wyoming and also an operating company in California. Should I use this company to set up the LLC for my properties and put them under the same holding company? Honestly, I do not like this company. That is why I am thinking maybe I should just go ahead and create my own company online. On the other hand, I do have a holding company. Should I put my rental LLC under the same holding company?

3) How would move my rental into LLC implicate my insurance?

Any insights and advise would be greatly appreciated! 

Best,

Jin 

Most Popular Reply

User Stats

419
Posts
542
Votes
Erik Browning
  • Lender
  • CO CA TX WA ID OR
542
Votes |
419
Posts
Erik Browning
  • Lender
  • CO CA TX WA ID OR
Replied
Quote from @Jin Zhang:

Hi everyone, 

I have some questions about how to set up LLCs for my properties and would love to learn more about your expert opinion. Currently, I have two rentals. One is in California (I currently live in this state but not in this property) and the other is is Atlanta. They are currently hold under my personal name. I would love to move them into LLCs. 

1) How should I set up LLCs for them? Should I set up one for each? 

2) Since I only have two properties, should I use online LLC services? I used a company to set up a LLC for financial service business in the past. They have set up a holding company in Wyoming and also an operating company in California. Should I use this company to set up the LLC for my properties and put them under the same holding company? Honestly, I do not like this company. That is why I am thinking maybe I should just go ahead and create my own company online. On the other hand, I do have a holding company. Should I put my rental LLC under the same holding company?

3) How would move my rental into LLC implicate my insurance?

Any insights and advise would be greatly appreciated! 

Best,

Jin 


 Set up an appointment with https://www.primecorporateservices.com/

This is what you'll go over with them in the call. It's going to be about $3850 to set it up with them. I do not work for them.

  • Erik Browning
  • (707) 595-7574

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