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Updated over 4 years ago,
Forming a legal entity
Being in the military, you have a distinct advantage of seeing great markets and purchasing homes with no money down through the VA loan. One downside I see is if each property is usually in different states and will require an LLC or legal entity to be formed. As my family and I move, we will purchase a second home use the house hack method. Once we are ready to move, I will form an LLC.
I understand there are two ways of forming one, which is either through a forming company or legal (more expensive). Does anyone have experience on this topic and willing to share your knowledge? I want to form a legal entity that allows multiple LLC's in states to reside under it and offer inside and outside protection. For example, Wyoming is a domicile LLC that is manager ran with anonymity, and other legal entities are member ran that all fall under the domicile LLC.
The goal is to have one K-1 tax form, which I plan to find a CPA at that point that will grow with our portfolio. Has anyone done this? What companies are best? Are you willing to meet and discuss (local if you live in Monterey, CA, or through Zoom)? Thank you!
Sincerely
Joshua