Asset Protection for Rental Property

[Jecarl Viray]

Hi BP,

I'm from LA and I'm thinking of creating asset protection for my rental properties but I'm not sure how to avoid the CA franchise fee. One legal company that I talked to said to create an LLC on the state where the property is located, which is Indiana, Ohio and FL. They also said to create a WY holding LLC for anonymity and to avoid paying the CA franchise fees. The other legal company told me the same except that I will still need to pay the CA franchise fee despite having the WY LLC.

Can the WY LLC really avoid the CA franchise fees?

I’d also like to hear about the experiences of the CA investors investing in other states, how they set up their asset protection entity and if there’s a way to avoid the CA franchise fees legally.

Thank you in advance!

Jecarl