series LLC/ parent LLC

[Jim Chung]

hi everyone, just want to hear opinions about structure series LLC

I recently open up a series LLC. I ve a master/ parent LLC ( ABCD property group, LLC) , then I also open up a subset series I ( ABCD property group, series I, LLC) which I'm planning to put the property into it. there will be separate bank account with master/parent and my series I. My attorney advise me property should go into series I, II, etc

the question I ve is what do ppl usually do with the master/parent LLC.. does it become a shell?

I read everything should keep separate between series with rent, repair, bils.. If that is the case..how do I flow money to the parent LLC? or do I need to ? I'm abit confused what to do with the parent /master LLC itself

thanks

[Ricky Powell]

The way I understand it is that your Master to the series LLC is best to not conduct any activity. The master simply holds the property and then outsources the management component to another company you would more than likely own. That company does all the contracting, rent collection etc. If the PM company were sued the PM company has no assets.