CA resident holding multiple LLCs

[Oren H.]

Hi BP members, 

I understand that as a California resident, if I open up an LLC to hold my out-of-state real estate, I still have to register the LLC in CA and pay the $800 CA fee.

I want to set up multiple LLCs in different states to hold my real estate portfolio. Each LLC will hold one or more properties. However, I'd like to avoid registering multiple LLCs in CA and paying the $800 fee for each.

Is there a way to set up the LLCs in a way so I will only have to pay the $800 fee once? For example, if I set up one LLC as a holding company to manage all the others? Any other options that can help me lower my fees?

Thanks!

Oren

[Brian Burke]

@Oren H. if the properties are out of state you don't need to form the entity in CA, you can form it in the state where the property is located or in another state such as Delaware if you'd rather. You don't need to register the LLC as a foreign entity in CA either if the LLC has no operations in CA. Nor do you have to pay CA $800.

Buying in-state is a whole different story...