ADVICE NEEDED: Wyoming LLC (w/DBA) & How To Best Isolate Risk

[Christopher Boon]

If there are any real estate lawyers that can help answer this question, then I would greatly appreciate it and I promise to pay the kindness forward.   :)

CONTEXT: I'm setting up a WY LCC as my parent holding company along with a DBA attached to it simply for branding purposes. I then plan to set up one LLC in each state where I invest (e.g. TX LLC, NJ LLC, NC LLC, etc.).

GOAL: My main concern is security, anonymity, and isolating risk that may bubble up from one of the individual state LLCs, God forbid. I've heard many times that one's LLC structure and good insurance act as the two main pillars to protect myself and my family from any issues that may arise down the road.

QUESTION: That said, I would love some expert POV on which of the LLCs I should publicly affiliate myself with as the Founder & GM. Is it ok to publicly attach myself to the WY LLC DBA, or is there a smarter way to approach this? Am I putting me and my family at risk in anyway by attaching myself publicly to the WY LLC DBA?

Thanks you so much!
:boon :)

[Nathan Gesner]

Quote from @Christopher Boon:

I've heard many times that one's LLC structure and good insurance act as the two main pillars to protect myself and my family from any issues that may arise down the road.

You've heard wrong.

The best method of protecting yourself is to obey the law and treat your tenants honestly and fairly. I manage 400 rentals with 13 years experience and have never been sued. Even if you are sued, you won't lose if you are doing everything right. Even if you do lose, it's usually a dispute over deposits and won't cost you much. Even if it's over a slip-and-fall or some other large medical expense, your insurance will cover it.

The odds of you being sued and losing more than insurance would cover is ridiculously small. You should spend more time focusing on understanding the law, building a solid rental agreement, proper screening, and developing procedures for handling problems quickly and professionally.

If you can find him, Jerry W. is a Wyoming attorney and can answer the rest.