All Forum Posts by: Jojo Joy

@Joseph B. Davisson: Sorry, I didn't see this reply for this long. Thanks for your response. The question was more of educating myself and less to actually implement it. As of now, I am maintaining an regular LLC to hold my positions in my SFH investments.

If I were ever to maintain such a complex structure, my main idea behind it would be to deter any litigation seeing the multi-state structure itself, which at least to my knowledge is the first defense, or probably second, after my insurance. 

Instead of explaining a lot to confuse them, just get a custom printed rubber stamp (with your LLCs full legal name) and ask them to use that in the payable section of the check, instead of your name. 

I think you are worrying too much here.

I would suggest you shop around for a good title company who has experience doing this. A good real estate attorney would suffice as well. Ultimately the banks wouldn't care where the payments are coming from until do.

And if you are a little tech savvy like me, use SuiteCRM. It is open source. The self hosted version is completely free. No limits on anything. You can try it out online with a demo account. I am sure you won't regret spending that time. Have fun!

Ok, answering my own question, which I found out after scouring the internet. According to this document: Texas Attorney General JM-7, it is recommended for a 'foreign entity general-partner' of a Texas LLC, to qualify itself to do business in the state of Texas. It also recommends to seek legal counsel before doing this. I hope it helps somebody.

Got it, but somebody give a shot at my actual question here. Does the Wyoming LLC need to be qualified in Texas?

Tim Priebe : Thanks! The assets I am planning to protect are single/multi family homes.

Alexis Austin : Thanks for your reply! Could you please expand on why an S-corp being the corporate general partner would be more advantageous than another LLC?

I am looking into forming a series LLC. Incorporate a Texas LLC having the general partner as a Wyoming LLC. I will be the general partner for the Wyoming LLC. I will be running this structure, doing business in Texas. My question is: Should the Wyoming LLC be qualified to operate in Texas in this case? Thanks in Advance!