LLC Structure - how to set/use

[Arina Alexiuc]

New investor- have a question about LLC structure. So let's say I have a Holding LLC in WY and an Operating LLC in MD where I plan to invest. Is it enough? Do I buy the investment property with WY or MD LLC? Which one I use for bank account creation? Do I really need one LLC for each property? A little confused about the multiple LLCs structure 😳

[Carl Stenberg]

Arina, I think you're on the right track, but I have a few thoughts. First, I'd recommend that the LLC in MD own the property, and in turn, the Holding LLC should own the MD LLC. Second, you need to have separate business accounts for each entity. Lastly, something to think about: a few investors set up a management LLC that will not own any property but, in turn, deal with any third parties.