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All Forum Posts by: Alex Bar

Alex Bar has started 0 posts and replied 4 times.

Legal & Legislation

Post: LLC Structure & Bank Accounts

Alex Bar
Posted
  • Posts 4
  • Votes 2
Quote from @Ross Alcorn:

I own 3 properties all 3 being used for medium term rentals. What the best way to set up the properties to protect us from Liability. I see so much out there and it can be quite confusing at times.

This is my plan but would like some feedback. Have an LLC or S Corp- Holding company w/own bank account. Holding company will own the 3 LLC's with a property sitting in each.

Questions:

1. will the structure above cover us?

2. Can the holding company have separate bank accounts under its EIN number or do the LLC's have to have separate bank accounts under their own individual EIN numbers?

3. Should the holding company be an S corp or LLC??

4. In the event they will not let us quick claim deed the properties out of our personal name into an LLC. How should we proceed to protect ourselves?

Appreciate you guys helping!

Have you looked into getting umbrella insurance as a first layer of defense to rentals? It will require getting higher coverages on your properties but the cost difference won't be significant.
1 Vote
Starting Out

Post: Buying in Your Own Name & Building Business Credit w/ an LLC

Alex Bar
Posted
  • Posts 4
  • Votes 2
Quote from @Sofia Murgado:

Hi CJ! I’m just reading this post only 3 years later lol. I’m a newbie investor with 3 rental properties in Indiana. I’d love to learn more about your journey building business credit. I have been able to build business credit as sole proprietor. Im curious to know how it all went for you. I’d love to connect with you as I believe you are also in California.

 Same question here. I have two rentals and one in escrow and looking to expand using business credit. I saw a BP podcast (Jack McColl) yesterday from a company called Credit Stacking which educates and helps people build business credit.  Also saw him on Ryan Pineda's podcast. 

1 Vote
Real Estate Events & Meetups

Post: Rio Grande Valley Local Investor's Meet Up

Alex Bar
Posted
  • Posts 4
  • Votes 2

Would love to connect and meet at your next investor meetup.

0 Votes
Rio Grande Valley, Texas
BPCON

Post: BPCON ticket half off

Alex Bar
Posted
  • Posts 4
  • Votes 2

If still available please contact me

0 Votes