Investor · Boston, MA · Member since 2019 · 9 posts · 9 votes
Hello All,
I currently own two doors in my home state of Massachusetts but am under contract for 2 more doors (single family houses) out of state (Oklahoma). I am seeking feedback on what legal structures I should hold my properties in as I begin to accumulate a portfolio. I know there are both tax and legal aspects to consider. What paths have you all taken? I am grateful for all feedback received. Thank you very much!
Investor · Springfield, MA · Member since 2017 · 31 posts · 11 votes
6y
Hi Ryan/fellow MA investor,
Based on your post which states - "as I begin to accumulate a portfolio" , It is clear that you plan to buy several properties over the course of months/years. I would strongly encourage you to form a Holding company( preferably a Wyoming LLC) and form baby LLCs under the WY LLC. You need atleast 1 LLC in each state you hold properties. Yes, it will cost a little more but it IS worth it. Cost $100 to form WY LLC and $50 annual. MA cost $520 to set up and $500 annual fee - you can do it yourself. :)