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Updated almost 3 years ago on . Most recent reply

User Stats

544
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269
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Derreck Wells
  • Specialist
  • Pelham, NH
269
Votes |
544
Posts

Business structure in NH to hold a 5 unit retail building?

Derreck Wells
  • Specialist
  • Pelham, NH
Posted

Hi All,

I'm jumping in the deep end.

My first real estate investment is in the works and it's an owner financed 5 unit fully rented retail building. Owner has no loan against the property, so this is just between me and them. They're a nice, retired couple that moved to FL. and don't want to be bothered anymore. 

My question is how to structure my end so that I protect myself from the property and the property from my other business. I own a company pulling lead paint out of houses in MA. and while I'm well insulated against lawsuit (the state inspector has to sign off on my work before issuing a Lead Certificate, transferring liability to him) you just never know what a lawyer will try. If I ever get sued, I'd like them to not even know that I own real estate. If I can keep my name off the deed and off the LLC it would be ideal. I know this can be done through a WY. LLC, but that would take a couple weeks to set up and I want this done ASAP.

Is there a way to create a Trust, open the LLC in the name of the Trust, then take deed to the property in the LLC name? Is that allowed in NH? NH also has "charging order protection" (a good thing) but not against single member LLCs, so that's something else I'm trying to figure out. If the Trust owns the LLC, that would make it a "single member" LLC, correct?

Thanks in advance for any input!

Derreck

  • Derreck Wells
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