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Updated about 3 years ago,
Rental Property legal structuring
Hi all,
I currently have 4 rental properties in California all on 30 year mortgages. One of them I ended up adding 4 ADU units too and will be a 6 plex completion of the build in a few months. The 6 plex should cash flow around 15k a month...
I own a property in Texas as well and it is completely paid off. I currently have no LLC/Corp. structuring and was wondering what the best way to structure my properties.
I do all my own management and maintenance and from what I read I should have an LLC for both. I also should have LLC on each property under some corp umbrella. My goal would be to put myself and maybe one other on the payroll from the corporation for around 30-40k to contribute to roth/401 and SSI. Any feedback would be greatly appreciated.