LLC in Multiple States or One LLC in one State

[Amby Bhagtani]

I own properties in multiple states, so far the strategy has been to keep all properties in one LLC in CA, however I would like to understand if I should be moving each property in its own LLC for that particular state for tax purposes. Creating a LLC is not cheap so want to understand that better.

[Crystal Smith]

Quote from @Amby Bhagtani:

I own properties in multiple states, so far the strategy has been to keep all properties in one LLC in CA, however I would like to understand if I should be moving each property in its own LLC for that particular state for tax purposes. Creating a LLC is not cheap so want to understand that better.

We originally established an umbrella LLC in Nevada; then when purchasing in other states such as Illinois, we established series LLCs for each property. In states where we could not do a series LLC we established a separate LLC for each property. We used the series because it was much less expensive than establishing a regular LLC.