All Forum Posts by: Carlos C.

OK... thank you for the detailed response. I will transfer RE using a Warranty deed. Can I prepare a Warranty deed my self? A quit claim deed is pretty easy to do... or I need a title company or lawyer to do it?

Hi, 

I found several companies that help or form your LLC online...and here a few that look pretty good, include several documents and services. Have you use any of these or other suggestions?

https://www.wyregisteredagent.... 

https://www.incfile.com/form-o...

https://wyomingllcattorney.com...

https://www.northwestregistere...

https://www.llcuniversity.com

Thanks.

I received an email with pricing on both structures, prices are not bad, but do not include much, I still have to pay for a deed (quit claim or warranty) to transfer the rentals, register agent fee if I decide to open the Wyoming LLC. If I decide to do it, I will just setup the Holding LLC in Wyoming, then one LLC in KS and one in MO using a lawyer, then I can "copy and paste" the other LLCs in KS and MO as needed. I might put 2 o 3 properties per LLC to lower the amount of LLCs and fees.

Question: Why is preferred to use a warranty deed, instead of a quit claim deed? I understand that it gives you more coverage and it better if you are transfering RE from someone that you don't know... but in my case I will be transferring from myself to my LLC.

Thanks.

I had a consultation with Andersons a month ago... his youtube videos are great and a lot of good information... but they have packages... and are VERY VERY expensive... for the same setup as other companies for a lot less.

I contacted Royal Legal Solutions as well... packages as well and expensive.

I also contacted the Small Business office in Kansas and a couple of local lawyers.

So far Mark J K has been the best consultation and fees as very down to earth... but will confirm tomorrow :)

Hi, I had my appointment today and it went well. Tomorrow I should have a couple of setups and pricing... I will provide more information later.

The two main setups are:

1- Holding company in Wyoming if I want Charging Order Protections advantages, then a Series LLC in Kansas holding my Kansas RE and another Series LLC in Missouri holding my RE in Missouri.

2- Holding company in Wyoming if I want Charging Order Protections advantages, then form as many LLCs as I want inside of it, one per rental or one LLC per 2 o 3 rentals.

Fees are pretty reasonable and the same as they disclosed before the appointment, on their website or youtube videos. I really like that prices are the same. One thing that I REALLY hate is that most of this Lawyers have great structures and setups...but very expensive packages that include entities that are not necessary.

More info tomorrow.

Yes..every time you setup a consultation it ends up in a huge structure... I just feel that having rentals in my own name is not a good option... but a very elaborate structure is overkill.

The reason I asked is because if I form an LLC is MO is less $$$ than forming it in KS, and I have rentals in both states... thinking in opening all LLCs in MO.

Forming an LLC in MO...but the RE is located in KS ... what problems could/will arise if I do it?

In MO forming and LLC is $50, no annual fee. I know all LLCs have to be maintain properly... year after year.

One general question... Why is preferred or suggested to form the LLC that owns the RE rental property in the same state where the RE is located?

Yes... a couple of months ago the thought of moving my rentals to and LLC or other entity was not a concern... and the more I read the more confused I get... several types of structures and setups. For almost 20 yrs... I manage my rentals and try to be a good and responsible landlord and property owner... no major issues so far... for some reason I started to read on LLCs, asset protection and anonymity... now I dont know if I should restructure my assets or just continue my RE journey.