Series LLC as a Foreign LLC in my home state

[Bradley Bladon]

I'm in South Carolina, which does not offer a Series LLC and I only plan to buy rental property in SC. Let's say I form a Series LLC in TX for example, I'm assuming it then needs to be registered as a Foreign LLC in SC to conduct business here. Question: Would I have to register each new "child" LLC for each property I acquire with the state of SC and incur the associated costs?

(yes, invariably I will be using an attorney...just in the idea gathering phase now)... 

[Scott Smith]

@Bradley Bladon Sure thing

The ideal structure would look like this:
....................................................................... Series LLC ...................................................................................

........................................................... Agent Trust (anonymity) .......................................................................

Child Series A .......................................... Child Series B .......................................... Child Series C ..... (etc)

Land Trust A ............................................. Land Trust B ........................................... Land Trust C ...... (etc)

Property A .................................................. Property B .............................................. Property C ........ (etc)

The Land Trusts provide anonymity, and because you can form them in other states it removes the requirement to pay the foreign filing fees. The added benefit of the Land Trust is that you can also fold this type of structure into your estate planning quite easily, if you have an experienced attorney. 

You would have the individual child series as the grantor of the Land Trust. Have an attorney sign as "nominee trustee," which is then rolled over to you as trustee after it is formed (this way not only is your name NOT on public record, but it is your attorney's name - so it is protected under attorney/client privilege.) Finally the Beneficiary (or Beneficiaries) receives the proceeds (benefits) of the Agent Trust (the Beneficiary is the "Member" (or "Owner") of the Agent Trust, and therefore is the "Member" of the parent Series LLC.)

Once again, this isn't legal advice. It is just my opinion as a real estate investor.