All Forum Posts by: Dennis Griffith

@Cheryl Packham

Thanks for the info. 

@Jared Rogers  Thanks for the advice. I'll have to do some research on land trusts. 

@Jerry W. I have a management company that manages the property for me. The idea behind setting up the Wyoming LLC as a holding company is that any future investment properties I acquire would be held under it. You bring up an interesting point regarding the bank calling the loan if I transfer title. I will certainly take your advice and talk to a local professional about that possibility. Are you aware of banks taking that type of action?

I currently have one rental property, which is in my name. I have been inquiring about transferring ownership to corporate entity in order to protect my assets. The rental property is in North Carolina and I have been advised by an online service to transfer it to a North Carolina LLC and then create a Wyoming LLC which will act as a holding company for the North Carolina LLC. Can anyone shed some light on the situation or advise on whether this would be a good move?