All Forum Posts by: Afsheen S.

Two of the many procedures I did today were for cancer. So that's simply not true. 

I'm sure you could use your home address but that defeats the purpose of anonymity / asset protection. That's why I think having a different mailing address and phone number (for which you can use Google Voice) is important. On the same topic, you shouldn't be your own registered agent.

@Clint Coons or anyone else: In regards to simplifying the signature, I was wondering what the harm would be in structuring the Property LLC as "manager-managed" with myself being the manager and the Holding LLC being the single member in a state that provides anonymity for both the member and manager. In Missouri, for example, neither the name of the member nor manager is public information. The registered agent would be the only publicly listed person.

This would simplify the signature from: 

Property LLC
By John Doe, manager of Holding LLC as its member manager

To:

Property LLC
By John Doe, manager

At the same time, I wouldn't have to reference my Holding LLC each time I sign something for the Property LLC. Would that not be better in terms of asset protection??? Idk maybe I'm missing something. This is one of those questions that I can't get a straight answer on. I recently spoke with a real estate attorney here in Missouri and he said he always structures the Property LLC as "manager managed" even if the only member is the Holding LLC.

@Jeremy Rhodes I use iPostal1. Some other options would be Anytime or Traveling Mailbox. 

@Mike Jones I agree. If I had seen this thread back when I was setting up my business structure, it would have answered many of my questions. I did ultimately use a real estate attorney for my first LLC and don't regret it because I learned a lot from the process and the way he structured the operating agreement. But I don't think I'll do that each time I buy a property, esp if its in the same state. Not sure if I'd ever use a CPA for this purpose tho.

I assume you are referring to local banks only? I was able to open an account with US Bank for my WY-based Holding LLC with a WY business address.

On another note, your videos were very helpful in organizing my business structure...so thanks!

@Craig Curelop I did recently start listening to both of those podcasts. I appreciate all the other suggestions as well. Thanks!

@Adrian Fajardo thanks for the advice!

@Greg Miller Ah yes the coronavirus. Has made things a lil complicated. I had to cancel all my vacation time cuz we don't have enough physicians anymore.

But anyways, hopefully in the next few months I'll get the opportunity to meet with some fellow stl investors. Until then I'll just continue to read and research!

Thanks!

Just wanted to introduce myself and hopefully meet some people. I'm currently in St. Louis... live in the Dogtown area. Plan to buy my first property in the next few months if I can find the right deal. Buy and hold. Would like to start with small multifamilies and eventually work my way up to commercial. Long term goal is supplemental passive income.

Ive been reading books, blogs, and forums and listening to podcasts for the last few months. I set up an LLC (as I would like to keep REI as separate from myself and other job as much as possible). I met with a broker from South City, and plan to speak with some lenders in the near future.

Anyways, just wanted to say Hi and hopefully connect with some local STL investors. Any advice would be greatly appreciated!

Thanks!

Afsheen