All Forum Posts by: Marc Mason

Hello Stephanie - thank you for the reply, it was helpful. I thought it should be a standard form and possibly on that should have been included in the documents when my attorney set up the LLC initially, thanks again for your help!! Marc

I am selling a property that was purchased in my LLC and the Title company is asking me for a "Consent to Sell Document". We set up the LLC for the purpose of buying and selling properties so this should not be a complicated document to generate and I'm wondering if this should have been included the formation documents.

Please advise - I look forward to the comments.

Marc

Hello Basit and A bena, 

Thank you both for your comments and advice. I did take the time talk to an attorney and their recommendation was to establish a LLC in the state that has the best tax and implications and to file as a foreign entity in the other states I invest in. They also recommended but said it WAS NOT required that I think about a secondary LLC to manage the rental properties and use the primary as a holding company. The first LLC would hold all of the assets and the second would only have limited assets to maintain and run the rental units. The reason for this is if there is an issue and a tenant filed a charge they could not be able to go after the assets of the Holding company only the management company.

Any comments on this strategy?

I live in Texas and I am interesting in investing in property in other states, specifically WI, NC and possibly OH.  I am looking for advice or guidance about how to set up the business entity that will allow me to do this.  For those of you who have invested in multiple states I would like to get your feedback.

Thank you!

Marc

I am looking to purchase a home in Valley City and need an appraisal done to accurately determine the value of the property.