All Forum Posts by: Carlos C.

I was not able to paste the link... but search his youtube channel if you need more info.

I agree. I researching the Holding LLC setup and getting quotes and from lawyers and experiences from members of this forum and other... trying to narrow it down. Thanks

The Wyoming LLC is a COPE (Charging Order Protection Entity). I think there are 13 states that provide this advantage... and Wyoming is one of the best. Here a link with more info on it. Mark J Kohler is one of the lawyers that Im considering hiring.

The Land trust suggestion was to add anonymity to the owner of the real estate, making it harder for a lawyer to determine the person that owns the property.

I considered the Series LLC as well, but Im not sure if I can open an account for each individual "child" series. I would like to have a checking account per LLC and if the "child" LLC is not technically register with the estate.. I don't know if I can get a EIN number for it.

Also... on the accounting side of it... how money flows from one LLC to the other?

If I have a Holding company, then individual LLCs inside of it... to move rent money from one LLC to the other.. how do I do it? I will have a checking account per LLC all linked in the same profile in one bank.

To answered your question... we are in Kansas City, Kansas.

Thanks.

Hi... more info about our situation. We have rental single family homes in Kansas and Missouri, 6 in each estate. We live in Kansas. All are in my name. Im married. When I said that "we live in one of these estates" ... I meant that we live in Kansas... one of the estates were we own rental properties.

I manage all rentals, screen tenants, do maintenance... if I can not do it, I hire someone to fix it. 

I would like to:

-Open a holding LLC in Wyoming, then open one LLC per property (in Missouri, the filing fee is only $50 and no annual fee, so I will open all LLCs in Missouri even thought some rentals are in Kansas) and deed one property to each LLC... all LLCs will be owned by the Wyoming LLC.

Another attorney or "guru" suggested to add a Land Trust per property making the beneficiary of it the LLC.

I also thought opening a Series LLC, but I rather do the holding LLC and separate LLCs per property.

Any suggestions? has someone structured their assets this way? have you prove if it works.. getting sue and actually protecting your assets?

Thanks.

The main idea of posting here is to see if other members have a similar setup as I have described above. I know that I have to spend money.. my complaint was that I spent $150 for the same information that I found online... a waste of $150 by a so called attorney.

My goal right now is to seek the advise from other members and determine if the setup that some of these "gurus" are suggesting are worth the fee.

It looks like most of these attorneys make more money collecting the so called "consultation fee" than actually setting up the suggested structures... most of the ones that I have researched have overpriced packages fee and overkilled structures... expensive to setup and maintain in compliance with the states involved.

Thanks.

The main idea of posting here is to see if other members have a similar setup as I have described above. I know that I have to spend money.. my complaint was that I spent $150 for the same information that I found online...  a waste of $150 by a so called attorney. 

I have and will spend the necessary money to setup a asset protection... my goal right now is to seek the advise from other members and determine if the setup that some of these "gurus" are suggesting are worth the fee. Thanks

Hi to all,

I had a consultation from a referred lawyer (here on BiggerPockets) a couple of days ago. The Youtube videos and a few reviews were excellent.. but the person that I had as an advisor was a "presenter" not a lawyer... I emailed him several questions the day before and confirmed that he received all the questions with him via email... he had plenty of time to get the answers... he said that all my questions will be answered during his presentation... well I was VERY disappointed. The presentation gave me the same information that I found on this forum and others, and several youtube videos... what a wast of money ($150). The only new information was the "packages" that they offered... overpriced IMO.

So im going to ask members your opinion.

We have a few properties in 2 estates, we live in one of this estates.

Should we...

1- Open a Series LLC, then a Land trust to "mask the owner ship of it", then open child series, open another Land trust, deed one property to it and do the same for every child series? This was suggested by the company that offered the consultation.

2- Open a holding LLC in Wyoming, then open one LLC per property and deed one property to each one... all LLCs will be owned by the Wyoming LLC.This is the setup suggested by another company.

This is a basic explanation... but is a complex thing to explain in writing... it would be easier if I can draw it. :)

Thank you for your help and suggestions.

Hi to all, 

I had a consultation from a referred lawyer (here on BiggerPockets) a couple of days ago. The Youtube videos and a few reviews were excellent.. but the person that I had as an advisor was a "presenter" not a lawyer... I emailed him several questions the day before and confirmed that he received all the questions with him via email... he had plenty of time to get the answers... he said that all my questions will be answered during his presentation... well I was VERY disappointed. The presentation gave me the same information that I found on this forum and others, and several youtube videos... what a wast of money ($150). The only new information was the "packages" that they offered... overpriced IMO.

So im going to ask members your opinion.

We have a few properties in 2 estates, we live in one of this estates.

Should we...

1- Open a Series LLC, then a Land trust to "mask the owner ship of it", then open child series, open another Land trust, deed one property to it and do the same for every child series? This was suggested by the company that offered the consultation.

2- Open a holding LLC in Wyoming, then open one LLC per property and deed one property to each one... all LLCs will be owned by the Wyoming LLC.This is the setup suggested by another company.

This is a basic explanation... but is a complex thing to explain in writing... it would be easier if I can draw it. :)

Thank you for your help and suggestions.

Hi to all, I was going to setup a 1hr consultation with this company tomorrow and decided to search a little more on this forum. I like the strategies that they recommend and the podcasts that they have on different RE sites. I know that not everybody is going to be 100% happy and satisfied with every service... but after reading this post... there are several reflags and it looks like somebody is dropping the ball, if the company has a lot of new clients, they need to hire competent personnel to help.. and so far it looks that they are not doing it.

Im going to keep researching different websites and hopefully find a local law firm that does this type of LLC structuring and asset protection.

Has anybody worked with Mark J Kohler?, it looks like someone with a lot of good advise and expertise in the same field. https://markjkohler.com

Thanks.