All Forum Posts by: Ki C Chan

I’m new to Texas Taylor city investor. I would like to know beside Samsung factory building south of 79. Is there anything happening on new development will be in north of 79 thank you so much.

Why not just purchase a home and do the assisting living space? one step at the time, instead of jumping all in. I guess I know whose the mentor or group that you were referring to. I was think about the same thing in Las vegas since the LTR is not going to let you cash flow. I was thinking buy a home and rent to the operator 

I was studying at Vegas since at the beginning of this year. Originally was thinking to relocate, after going there, driving around the neighborhood, Summerlin West, South, North a bit. I ended up maybe this is not the right time for my family. I switched to investing mindset when looking at MLS.

  FOR SURE, this is not a cash flow market like others. Most home rent for LTR about 2500 to 3000 dollars, 3/2 or 4/3 even in better area in town. I don't even try the Best area like my agent says 89138, 89144, 89135 etc. 

400ish k with 25% down, 7% interest. Most likely you will be ended up negative couple hundred monthly with Capex, PM, Vacancy included.

Either find an agent who is willing to write ton of LOW BALL offers, hopfully get 1 out of 100 at 20% discount Or, you are betting on Appreciation or rate cut. Otherwise, Neg cash flow day 1

Best of luck but I keep looking at MLS daily.

Hi BP

I am working on the transferring my Wy LLC interest into my Living Trust. base on the recent research online, most of people will suggest assign your own interest to your own living trust instead of filing to secretary of state which will ask your who is the new member and it will also complicate your OA. Just do the assignment contract ???? this is something that i find on youtube..

Any thoughts?

many thanks

My CPA doesn’t know much about it. All the structure I did is from Prime corporate service.  I can give you the point of contact. Schedule with them to have free consultation.  They are only set up your LLCs correctly I guess.  

Trust— I have bad experience since they outsource that part out. I haven’t tried their CPA service 

I will set up an LLC where your property is, buy the commercial umbrella as well as landlord policy. Then the member of the LLC owned by Wyoming LLC as a holding company. then trust own your Wyoming LLC But again please advise your real estate planing attorney

Good morning all BP 

  thank you for sharing your thought here 

The structure that I am having is Wyoming LLC as a member manage of California, LLC. In the secretary of states, when you search California LLC, you will not see your name in there, but only Wyoming LLC as a member of it. In Wyoming state it will not disclose who is a member of the LLC. By doing, so please use the register agent. None of your information will be seen in public eye and in your Wyoming LLC you should put your trust as a member of that LLC.

     none of the structure will give you any tax benefits. You will still pay CA franchise since your property is in CA and doing business in CA

       Wyoming LLC and couple more states gives you exclusive charging order remedy. That’s all about why so popular open holding company over there. 

The the anonymity you can simply open CA LLC owned by trust to do rental business. But it will not give you charging order protection.

I was over thinking last year. Now I need to transfer my Wyoming LLC to trust which I just set up.

Hope it help 

Hi this is exactly how my structure is. 

CA LLC and owned by Parent WY LLC and now I am trying to move the WY LLC to trust owned.

What make your CA LLC anonymity is your registered agent. They are the one help you register your LLC in Secretary of State, the mailing address they will use register agent address. Nothing related to your information can be found in government website.

WY LLC doesn't make your CA LLC anonymous. It is your registered agent. Yet. WY LLC automatically provide you anonymous because of the state requirement. The MOST IMPORTANTLY why so many people need WY LLC NV LLC, Delaware LLC AS A HOLDING COMPANY simply because it provides a strong exclusive charging order protection. And all YouTube channels say so. Well it is still correct. But it is not necessary. As long as you fix things up in your property, being pro action not reaction, and MOST IMPORTANTLY umbrella policy.

all we need is living trust, even in CA. It already provides your anonymous as long as you name your trust name nothing relate to your name, your family, your pet. You know what I am trying to say

Good evening BP Family

. I recently set up my living trust and my estate planning attorney told me to change my Wyoming LLC ownership. Instead of me and my wife, Trust will be solo ownership.

From my Operating agreement of Wy LLC, there is a section saying that ( Estate Planning Transfer) "

1. If both Members die simultaneously or upon the death of the surviving Member the entire business Membership interest shall be transferred to the (trust) dated on xxxx. 
   

aslo there is another section ( Amendment)  ' 

       ''This Operating Agreement may be amended or modified from time to time only by a written instrument adopted by all the Members and Managers and the Company and executed by all the Members, Managers and the Company.''

My Question will be With these two statements in my OA, Do i still need to hire professional to do the paper work in the state of Wyoming? 

much appreciated in advance

Hi BP community

I just wonder if any one has recommendations regarding real estate attorney who is specialized on drafting seller financing contact.

I am in Bay area CA

I am looking forward to hearing from you

Thank you so much

Ki