Starting brand new with a twist
Hello everyone, I may be finding myself in a situation in the near future of receiving 70 SFH and a few duplex's the issue at hand is minimal legal structure (one basic LLC) and no systems in place for anything, (no rent collection methods, or accounts setup for a business or CC, or anything else you can think of).
If you had to start over from the very first step how would you set it up? What legal structure? A Corp to LLC to LLCs??
What systems would you put in place?
How would you have rent collected?
Most Popular Reply
With such a large influx of properties all at once it sounds like a good legal structure might be a Series LLC with another Traditional LLC to act as the operating company handling day to day operations. This way you can compartmentalize and create anonymity within the structure. The Traditional LLC can collect rent and contract with other companies, while keeping the assets separate and protected.