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Updated about 7 years ago,

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Glenn Wedekind
  • Clearwater, FL
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LLC's and storage facilities...what is best way to set it up ?

Glenn Wedekind
  • Clearwater, FL
Posted

Just made my first deal and close on the 29th of December of an existing and fully occupied storage facility in Tampabay Florida comprised of two 7000sf buildings and 48 garage doors total. I have prior landlord experience running a 20,000sf property for my family that was 1200sf-5000sf industrial units for 8 years. So I already have the hands on landlord experience writing leases , managing contractors, landing and managing tenants etc but unsure how to structure the business side of my new venture. I am purchasing the business and property with owner financing. There is an LLC I have set up and used to fund the down payment and will be the "owner" of the property on the sales contract. This is where I don't know if I should set up another separate LLC for the business portion or just run it all under the main LLC with a DBA. I plan on other ventures later but unsure if its wise to have just one LLC and risk the potential liability issues . Anyone who may have any input on this is greatly appreciated.