All Forum Posts by: David Disraeli

Hello Mark,

Whether you form an entity here in TX or somewhere else, you will need to register in Texas depending on what you buy. Having a tenant constitutes "doing business" in Texas. TX is $300 upfront and $0 per year. So unless you are buying raw land TX is probably the place since you have to register here anyway. As an added plus Texas offer the "series" LLC. For more info, PM me. Good luck!

Hey Jamie,

We use an anonymous revocable trust to form a Texas Series LLC. I call it a "FlexTrust LLC if you want to Google it. I have designed dozens of these and my client's personal info is nowhere to be found - one entity and no limit on the number of properties. Some are that the series concept has not been litigated. That's true. Perhaps it will 30 years from now.

Note that any LLC doing business in TX needs more than a registered agent. The must registered the LLC with the TX SOS for $750. Also, CA charges $800/yr in minimum franchise fees for out of state LLC's as long as you live in CA and file taxes there. Crazy I know. Merry Christmas!

It costs just as much to form a TX Series LLC as it does a regular one so I am not sure about the logic of not doing it. LLC's DO NOT save any income tax = ask any reputable CPA. They are "pass through" entities. Any gains or losses are reported on the owner's 1040 schedule "E" just as they would be otherwise. One caveat, you have to know what you are doing to set up an LLC as a series. The TX SOS will NOT help you and there is no tuturial. I have done dozens and dozens. Some anonymously.

Hi there.  The state has been sending out those crazy letters.  You owe $50 most likely for not filing your annual report.  Easy fix.  PM me.

For the cost an LLC offers amazing protection, especially a series LLC. Also if you own it with your spouse it is considered a "single member" LLC and is NOT required to file anything at the federal level.

Hello from Austin. I can hook you up with local Real Estate talent if you need that. It is landlord friendly for sure. (Alghough I have nothing to compare it to). You definitely want to create an entity of some sort. CA has strange laws about even owning an out of state LLC. I can share more details on that if you want to pm me or davidatpcfodotnet Cheers!

It is always a good idea to put any non-residence (investment) property into an entity. The cost is minimal and there are no filing requirements at the federal level and Texas charges $0/yr. In addition property in an LLC avoids probate.

Good luck.  

Plus, There's no need to do that.  

No you can't.