Cost of a Series LLC

[Christopher Stodard]

Just bought my first rental property (duplex, all cash) and plan to BRRRR the property. I want to isolate this property from my other personal assets and have been looking into using a Series LLC, as this is the first of many properties (I hope). My question is how much should a good Series LLC cost to set up and how much to maintain? Should I expect an additional fee with every property I add to the series? I don't mind paying for a good product, but with just a brief online search I'm seeing a wide range of prices.

If it matters I'm investing in Florida, but my understanding is the LLC does not have to be in the state in which you invest, and I have no state preferences in this regard as long as it functions to protect my assets.

[Mike S.]

@Christopher Stodard

You still want to have en entity registered in the same state than your property as it is a requirement for any court action.

If you are in Florida I would suggest using a land trust for each property as we have really great land trust statutes here. Each land trust can then have an out of state LLC as beneficiary.

A great book to read on those is “Land Trust in Florida” by attorney Mark Warda.