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Updated almost 5 years ago, 01/13/2020

User Stats

82
Posts
15
Votes
Tyler Sample
  • Investor
  • San Antonio, TX
15
Votes |
82
Posts

Please Read!; Texas Residents; Creating an SLLC a good idea?

Tyler Sample
  • Investor
  • San Antonio, TX
Posted

My questions are:

1) I intend to be a life-long real estate investor within the State of Texas. I will be inheriting one property in the next month that I will turn around and sell immediately and then potentially purchasing 19ac in the next few months (financing the 19ac). Should I create a Series LLC before I own both of these properties? What are the issues with owning both properties and then transferring title to the SLLC? i.e. Due On Sale Clauses, loans, etc.

2) Should I file as a S Corp for tax purposes? I understand this means I am an "employee" of the SLLC but I'm not sure what I should list my own salary as if one at all or how that works. I just know the pass-through taxation is a benefit of up to 20% more to write off or something like that.

3) Do I even need to create an SLLC at all? I think it would be a good idea to go ahead and create one since I intend to own at least 10+ properties within the next 7-8 years. 

4) LegalZoom or talk to an attorney?

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