Need Advice on LLC Setup & Tax Strategy for Real Estate Investments

[Isaiah Cortez]

Hi everyone,

I'm looking for guidance on setting up my LLCs to be as tax-efficient as possible as I prepare for my first multifamily property purchase. I’m a high-income earner and just received a substantial tax bill, so I want to make sure I’m getting everything right from the start.

To give some context, I currently own one rental property where my dad resides. My next step is purchasing my first multifamily property in Tampa, Florida, which will include tenants, as a house hack. I file my taxes in Florida and am considering setting up an Investment LLC, a Property Management LLC, and possibly another LLC for short-term and mid-term rentals. I'm also thinking about using an S-Corp or another passthrough entity for tax purposes.

I'm looking to scale my real estate portfolio, and I know that starting sooner rather than later will be more beneficial in the long run. Who should I be talking to for the best advice on structuring these entities to minimize taxes, protect my assets, and maximize my investment strategy?

Any insights or recommendations would be greatly appreciated!

Thanks in advance!

[Basit Siddiqi]

It appears that you have a complex structure already suggested to you(PM company, S-Corp, Investment LLC, etc).

Who suggested this structure to you and what did they say was the benefit for setting all these companies up?

I like to keep things simple. I do not like more entities because it means more bank account numbers, credit cards, debit cards, check books, etc

Best of luck