Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Agent
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

72
Posts
8
Votes
Oliver Martin
  • Las Vegas, NV
8
Votes |
72
Posts

LLC, Las Vegas, managing rental properties

Oliver Martin
  • Las Vegas, NV
Posted
So I finally formed an LLC. My plan was to quit claim 3 properties to the LLC. Those are the ones I plan to keep long term. Tenant to deposit payments to the LLC account. I will manage those properties and the LLC pays me. The LLC is taxed as an S Corp. This is what my accountant recommended. Now as a realtor here in Las Vegas, am I still allowed to manage those properties and receive payment since it's not in my name anymore? Since it's now owned by the LLC (which I have 100% ownership), do I need to get a property management permit? There's a 3 day class being offered here in Las Vegas that would make me eligible to sit for the exam. The certificate/permit will then be attached to my real estate salesman license. But I'm not sure if this is really necessary. Another option is to just keep the properties under my name for now. Main reason I wanted to move it into the LLC is to just add a layer of privacy. I will talk to my broker and/or call the division, and probably an attorney as well. But would like to hear first from folks here who have similar experience or could share some knowledge about this situation. Thanks in advance.

Loading replies...