Series LLC Question / Outline

[AJ Smith]

I have been reading as much as I can on series LLCs and was looking for some clarity around them. For context, I own a handful of rental properties and also work a W2 job. I am thinking a Delaware series LLC would be the best way to hold my rental properties. i'll outline how i believe using a series LLC will impact liability and taxes. Hoping this can provide clarity to others and hoping more experienced users can pick apart / call out where i am wrong.

I will open a Delaware series LLC that will have a single tax ID, paying a single fee to start & annually.

I will open a child LLC for each rental property I own.

- will the series LLC provide anonymity ?

- will i be able to separate out each of the properties from a tax perspective? or will i need to roll all of them together and take the gain/loss of the portfolio as a whole?

- the titles of each property will be transferred to the child series within the parent series LLC.

- child LLC / property A will be protected from a lawsuit filed against child LLC / property B

- i will pay taxes only in the state in which i operate the properties, not in Delaware. I will only pay the fees required to set up the series LLC to the state of Delaware.

[Donte Handy]

@AJ Smith

I can't answer your questions, but I'd just like to say that I just found out about the series LLC at the top of this year. I'll be forming one in the near future. I just haven't decided on a name yet.

I'm sure a Delaware attorney or tax professional could help you with the answers to your questions.

Before I file for my series LLC, I'll probably consult with Wolfe & Associates to make sure that I fully understand the implications of forming the series LLC and the impact it'll have on my Real Estate Investing.

I'll be sure to ask your questions, also.