All Forum Posts by: Carlos C.

Why would I have to register the Holding LLC as a foreign entity? it only holds the RE. The management LLC will be register in KS and MO.

All properties are owned by me.. one owner.

I considered the Series LLC setup... but it just doest feel right... not sure what it is... it feels like a "fake" setup. Maybe I do a Series LLC... and take advantage that KS and MO allow series LLCs.

If I open a Series LLC in MO or KS can it be owned by a LLC in Wyoming, to get the COP benefits? or will it be overkilled?

Hi, 

I need a bank that knows how to deal with RE investors. I have a few rentals and all my income is from the rentals... but I have several deductions every year and end up with "paper losses". I tried all kinds of banks, big banks (Bank of America, Wells Fargo) small banks and credit unions, but as soon as my application is forwarded to the underwriters department my taxes cause the application to be denied. My credit is excellent 800+, monthly cash flow is good, no credit card debt, cash reserves.. only a couple of RE loans. Its a VERY frustrating situation. I would like to establish a HELOC on my home or rental property. Thanks.

I live in Kansas, and have a few rentals in Kansas and Missouri. I would like to structure my rentals for privacy and liability. I also manage all and do repairs, sometimes hire contractors if I can not do the work.

Im thinking on openening a Holding LLC in Wyoming, to take advantage of the charging order protections (better than KS and MO), then open one LLC per property. The initial fee to open an LLC in MO is only $50, and no annual fee, one per property is not a big expense. In KS is a little more $160 to open then $50 per year.

My questions are:

1- Its it worth it to have a holding LLC in Wyoming for the COP and Pay for a registered agent? or open the Holding company in MO?

2- Why is it recommended to open the LLC that owns the RE in the same estate were the RE is located? can I open all in MO, the filing fee is less in MO?

3- If the Holding company gets sue, will all the LLCs inside of it will be expose?

Thank you for your advise.

In the scenario that I described a Holding company will ONLY hold the RE properties, maybe a Wyoming LLC or a Series LLC. Then the traditional LLC will have ONE checking account for ALL rentals?

Will this setup help lower the liability by keeping the RE separate from the LLC that is dealing with the public?

Hi, 

Im restructuring my rentals and several members, articles and youtube videos suggest to have a Holding LLC and have individual LLCs inside of it owning one RE property per LLC.

Then open a traditional LLC to manage the rentals. This LLC will lease the rentals, collect rents, deal with contractors, etc.

Do I need one or several bank accounts for the traditional LLC (management LLC)? if I have only one bank account and all the tenants deposit their rent payments, will this be consider "commingling" funds?

Thank you for the advise.

Scott, Im thinking on opening a holding company, maybe an LLC in Wyoming or a Series LLC, not sure yet to hold the rentals, also my rentals are located in Missouri and Kansas and both estates allow Series LLCs.

My questions is regarding the traditional LLC that you suggest to manage the properties, collect rents, etc. If I open this type of LLC, do I have to open one in KS and register also in MO? This LLC will have one checking account? do all tenants deposit their rent payments into one account, will this be "commingling" funds?

Thank you for your help.

Scott, I actually contacted your company an pay for a consultation... but your packages were too expensive.. very creative and I bet these work great...but too expensive IMO. Thank you for the advice. I like that you add a land trust to the mix... for an extra layer of anonymity. 

Im not in Wyoming... Im located in Kansas... Im only opening the LLC in Wyoming for the Charging order protection advantages.

I get it... but I would like to set it up right from the beginning.. not rush it. I guess I posted on the wrong forum... no advise so far. 

Hi to all, 

Im planning on opening a Wyoming LLC as a holding company, then open an LLC for each rental that we have in Kansas and Missouri.

I read several articles and would like input on the way rental payments should flow from the tenants to me.

1- The tenant deposits rent in the account of the LLC that owns the RE property.

2- The rent money is transfer to an account in the name of the Wyoming holding LLC

3- Any money that I need to pay for personal expenses is transfer from the Holding LLC account to my personal account.

Question:

1- Do I need to move money to the holding company... then to my personal account.. or can I move it from the Rental account to my personal account?

2- How do I open a Wyoming account? Do I need to open one in Wyoming? or just an account using the EIN number of the Wyoming LLC?

3- Is this actually necessary? Im trying to create a "paper" trail... but actually all will be done electronically... transfers between bank accounts... hopefully in the same bank. 

NOTE: The main reason Im thinking on opening a holding company in Wyoming is for the Charging Order protection advantages... KS and MO don't provide the same advantages.

Thanks.