LLC Info Needed

[Amby Bhagtani]

I have properties in Ohio and California. Curious how have people setup properties? Do you have one overall Trust and LLCs under each property? Or do you use a series LLC?

Could use some guidance here.

[David M.]

@Amby Bhagtani

I didn't realize that OH and/or CA even recognized series LLC. If they did recently, that just adds more to the thought of not using a series LLC since they are so new. There is now legal precedence on how they are handled. Consult a qualified professional.

1st, you don't always need a LLC and Trust... Its posted nearly daily on the boards, and it wasn't your question...

Its really up to you and what are you trying to achieve / are comfortable with doing. Whether you have 1 property to a LLC or 50 to a LLC is up to you. How much administrative headache do you want? Do you want umbrella insurance policies (while you may not need an umbrella policy you still need insurance) do you want or want one to handle multiple properties (would all need ot be Title in the same LLC). Are you looking to setup a 'mgt LLC' to run your operations?

Do you want / willing to pay that $800 annual fee per LLC in CA?

Of course, your financing should/will move to commercial loans, no more conforming loans (if you have any).

Good luck.