All Forum Posts by: Blake Russell

In regards of privacy and taxation what value can a Wyoming LLC holding company provide to a RE business that buys & holds/BRRRR and has an attorney at law conduct Wyoming LLC annual reports for me?

Let's say I have properties in Texas, Georgia, and Alabama and I'm using a property manager for all properties...what issues in regards to privacy and/or taxation would I encounter if/when the property manager sends me the post fee rent income to my business checking accounts? Do I need to register as foreign entities in those states if I don't have a subsidiary LLC to receive the check from the property managers?

I will not be able to purchase properties in cash and will likely start off by taking mortgages out on properties using my name so let's not discuss corporate veils as that's another discussion and intend on holding an umbrella insurance policy. I'm more interested in taxation affects and privacy and I realize I'd need to get the properties deeded to the LLC so that I check off the privacy box in that regard.

Would I in this situation be fully private or am I missing something? And how is this tax reported as a SMLLC federally and locally at the state level? Schedule-K federally and the normal Wyoming filing fee of $50/$52 dollars up to $250k assets + a percentage of $50 every $250k past that?

Thanks!

I've only been on my journey researching for the past month chomping at the bit to get out there and buy a home...however my wife and I signed a purchase agreement back in January on a new house build so I decided to postpone buying my first property until we close on our new home in October/November time frame....

However, the more information I keep digesting, the more I keep thinking why don't I cash-out refi our current property and keep it as my "first property" to rent out? We need a healthy down payment, but luckily with the shift in pricing we appear to have a lot of room between what's left on the current mortgage vs. what the property will most likely appraise for...

The main problem I am trying to tackle in my head right now is if refinancing in July when we close in October/November (and we will need/use conventional financing for that home) really a good idea? I'm just very concerned that might impact our financing for the new home. I maintain anywhere between a 750-790, my wife commands a 800+ and between the both of us we make just under 200k a year at our normal jobs. 

Should I be concerned or should I start the paper work?