Wanting to put property into series LLC help.

[Eav Lim]

Hello, 

I am new to this forum.

I already have a property series LLC registered in Nevada. I have 4 properties located in Nevada which I am creating a quitclaim deed to transfer to the LLC. There will be 2 members of the LLC. All the members live in New York, but our business is in Nevada, hence, the Nevada LLC.

Would anyone know how I can put the sub-LLC into effect for each of my properties? Is there some place I am suppose to register at? I called Nevada County Clerk and they basically told me that only the master-LLC is registered w/ them, hence only one sum fee per year for member list and business registration. I registered the LLC as series.

I contacted a few legal firms, but I've basically did everything myself so far, so just waiting to hear back from them. But I just want to get opinion from other people as well.

Thanks!

[Eav Lim]

Thanks a lot John. That really makes a lot of sense. I was trying to figure out if forming the sub-LLC is a legal process w/ registration and all that. I guess the only thing I would have to do is to fill out the DBA form from Clark County and hand it in. I am assuming that once the application is accepted and processed, they will send me the DBA certificate to my mailing address and not my business address if separate.

How did you fair w/ opening different bank accounts under each DBA? I am assuming that since I have 4 property, then I would have a MASTER LLC, then MASTER SERIES1, MASTER SERIES2, MASTER SERIES3, MASTER SERIES4. Therefore, that would be 5 different business accounts? At the same time, I am assuming that when doing repairs on properties and such, each property must manage its own finances basically. For example, Repair on property of MASTER SERIES1, must withdraw money from its own bank account and cannot take money from MASTER SERIES2 to pay for repairs?