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Updated over 3 years ago,

User Stats

132
Posts
59
Votes
Julie Sisnroy
  • Realtor
  • Papillion, NE
59
Votes |
132
Posts

Specific LLC questions on Wyoming Holding Structure

Julie Sisnroy
  • Realtor
  • Papillion, NE
Posted

After researching LLCs (the opinions vary as much as what kind of pizza is the best...so I don't want to rehash that), but I have decided to go with a WY holding LLC. Now, I need to create separate operating LLCs under the 3 states where I own property (WY, FL, and MO). I would need the Registered Agent, Operating Agreement, etc.

Once I set up those LLCs, how to I get them under my holding company?  I understand an asset transfer and lease agreements is required ?? (will hire attorney for that).  Is that all that is required?

I am purchasing a FL home using an LLC (no lending issues). Do I use a Florida LLC or the holding company as the name on the contract? As a reminder the only LLC I have set up at this point is the WY holding LLC. Intuitively, it seems I would use the Florida LLC. So what then goes under the holding company or is that just a legal entity?

Last, once the structure in completely set up, what is the best way to move my other assets? I assume they would all move into the respective LLCS (i.e Missouri properties go into MO LLC). I am looking for "best" advice. I have talked to RE attorneys, but even their answers vary and they often speak the legalese language I am not fluent in! Thanks!

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