All Forum Posts by: Brandon R.

Thank you!!

I have a few LLCs. Each fully owns a single family house. 

I just got a PO Box for a non real estate LLC. Can/should I share this PO Box for the mailing address for all my LLCs? Would this contribute to Piercing the Corporate Veil?

I already have registered agents for the official mailing addresses. This new LLC needed a mailing address for normal mailing activities (I’ve always understood that the registered agent address is only for legal mailings vs ‘normal’ business mail).

thanks!

Thank you

 Bump. Thanks.

Thank you everybody. Since my original post I've read quite a bit about this in various books & podcasts and am clear on this now. I don't know why the CPAs I previously talked to made it so difficult to understand.

I have established a holding LLC that I am the owner of, and a subsidiary LLC that is wholly owned by the holding LLC. The subsidiary LLC is registered in NC where it is about to buy a property (cash) that will be a long-term residential rental.

My first property will be paid for with cash, from an owners deposit: filtering down through the holding LLC and then to the subsidiary that will buy the property.

Looking forward, I will very likely form an LLC, owned by my holding LLC, for each property -and would rather not discus this here. I want to leverage this first property to build business credit for future properties (again, likely under different LLCs, subsidiarity of my holding LLC).

Which business do I focus on building credit for? I dont see any situation where my holding LLC will have any direct expenses so establishing credit will be nearly impossible.


Thanks,
Brandon

I have spent hours reading and cant find this answer. I've talked to 3 CPAs and they all say it depends (given, I haven't paid them it was an initial consolidation for each firm).

Please. I need an easy answer. This is my first LLC set-up and it's killing me trying to make sure I'm doing this all correct.

This is a multi-member LLC, formed as a partnership, in North Carolina. My wife & I are the only members (we wanted a multi-member vs single for future plans).

My wife & I am taking a mortgage out on my primary residence to raise 300k, and then pay cash for my first LLC Rental property. This means the rental property in the LLC will be fully paid off, but now I have to pay my personal mortgage. I want to take the rental money (from the LLC) and use it to pay for my personal mortgage.

How do I pay myself without getting raked over the coals on taxes?

Or, am I approaching this wrong?

Thank you