Wyoming LLC- anonimity for other states?

Question

Hi guys,

So Whyoming LLC does have anonymity, but how does it work if the property is in a different state, one still has to register that Wyoming LLC with the state that the property is in.

Does it mean that the anonymity is broken then?

Because in the state where the property is, one has to register with a physical address, right?

Josh Oliver · Answer

Hi, I know this is an old thread, but hoping the same knowledgeable people are around. I have recently created a real estate holding company Wyoming LLC and then a Texas LLC whose sole owning member is the Wyoming LLC. My question is what to do with my Texas Operating agreement and bank account?

My initial thought was that we would have to be listed as "Managers" on the Texas Operating Agreement while the Wyoming LLC is the only 100% member. Then can funds for sale of real estate flow directly to the WY LLC bank account, or do they need to flow first into the Texas LLC bank account, and then into the holding company WY LLC bank account prior to disbursement?

Greatly appreciate any help,

Thanks

Jerry W. · Answer

Being an effective hands on owner is pretty much impossible if you wish to remain truly anonymous.  You can easily run turn key rentals with being anonymous, but if you are buying and rehabbing and fixing up and renting units yourself, or even networking for deals.  Anonymous doesn't really work.  The added cost and time of doing the extra books can be a drain also.  If you are truly a high net worth individual who will not be doing any hands on then anonymous may be the thing for you.  if you really want that just buy into REIT.  If you truly want to invest in real estate and participate yourself you can pretty much forget anonymity.  Corporations and LLS and other entities do provide a lot of protection if you handle them correctly.  You also have insurance for most issues.

Keep in mind that NONE of the big dealers and movers on here do the anonymous thing.  Their business would never have taken off if they had went the anonymous route.  Building a brand or a reputation is pretty much impossible if you remain anonymous.  it all depends on what you want and can afford and what makes you sleep at night.

Sean Morrison · Answer

The WY LLC is the member of the new LLC. Not all states allow this. Texas requires people's names or a corporation. Just a reminder about anonymity - it's more for show than protection. If anybody is suing you, the court can simply issue an order to open the true owners. After all, you have to lift the mask for your taxes, your bank, and your registered agent.

Mary Jay · Answer

thank you so much!

David Disraeli · Answer

It is true that if someone wants to see behind the curtain all they have to do is sue.  The issue with anonymity is your name is not in public records.  That said, I have created multiple anonymous trust-owned LLC's for people here in Texas and it is a beautiful thing.  However, some states ask not only who or what entity the managing member is but who can sign on behalf of the entity.  There goes the anonymity.  Those are called disclosure states.  Texas does not require the signatory's name.

Kody Thompson · Answer

correct

Mary Jay · Answer

Thank you. So just to make sure I understood you correctly, Wyoming LLC is listed as a  manager on the articles of organization of local LLC... In other words, when you form your local LLC you say that Wyoming LLC is a manager/and representative of a local LLC?

Kody Thompson · Answer

That just means that the LLC in the state that your property is located is owned or managed by another LLC that way your name is not on it.

I personally set up individual LLC's for every part of my business tied back to several Wyoming LLC's we have set up for full anonymity

Kody Thompson · Answer

You simply set up an LLC in the state of the property it is being owned by and have the Wyoming LLC as the owner of that LLC

Do not put your name or address anywhere on the LLC for the specific property

Nate Marshall · Answer

Your Wyoming llc owns the one in your state. Ive seen people go as far as create one for a management company, a construction company and other service entities then one for each property.

Wyoming LLC- anonimity for other states?

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