Do you have an LLC per property?

I stopped doing actual business under this LLC in June 2024.

Quote from @Stacy Raskin: Many lenders would like a borrower to have an LLC opened since a business purpose loan.

I just used my attorney as our registered agent, PO Box as our business address, and a separate LLC as the holding company. $50/ LLC and it literally takes less than 20 minutes for each LLC and costs less than $20/ yr. to renew each LLC.

@Peter Schiff, Yes, Selling a property owned by an LLC in a 1031 exchange concludes with no recognition of gain. 

There are a few ways to do this. 1: create a multi-member LLC, both IRA’s are the members and the LLC holds all the assets. 2: each have their own LLC that invests into one asset as “co-investors” so to speak.

A real estate CPA can help structure your LLC properly (e.g., multi-member pass-through entity) and ensure you're maximizing deductions and remaining compliant across states.This post does not create a CPA-Client relationship.

One thing I would definitely recommend is that any of these major kinds of assets should be inside of an anonymous business LLC that has charging order protection as the exclusive remedy so that in the event that someone tries to target you for any personal lawsuits that they cannot force distributions or take away ownership interest from this LLC that has the major assets, all while giving you the full control of the LLC.

Once you start scaling or bring in partners, upgrading to a dedicated business account tied to an LLC becomes more important.

Hello! Newby here! I have been wholesaling for a few months and have my first few properties under contract! I plan to create a wholesaling business to launch my career in real estate, and then begin to get into long-...