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Updated over 11 years ago on . Most recent reply

User Stats

22
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0
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Giovanni Garcia
  • Investor
  • Chicago, IL
0
Votes |
22
Posts

New member here, and need help with a Series LLC.

Giovanni Garcia
  • Investor
  • Chicago, IL
Posted

Hi, Everyone.

My name is Giovanni, I've been on BP for a while learning and listening to everything I can. At this point I decided to try my luck with the RichDadCoaching program. I learned a great deal so far, being only 2 months in the program. My next plan or goals are to start putting my business structure into action. So I want to start by setting up a Series LLC in Illinois. With the LLC I plan to put the house that I inherited in the LLC. Some reasons are because of the tax benefits, asset protection, and etc. The main reason is because I plan on using the equity from this property to purchase my first real estate investment. I now receive cash flow in this property because I now rent the duplex and moved into the first floor. Putting about $1,100 in my pocket each month. With that being said I want to start off by investing in multi-unit properties. What steps do you think I should make next or change? Also, can anybody point me in the right direction so I can find the right person to set-up my Series LLC.

Thank you for your time.

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