All Forum Posts by: Eric Willis

@Eric Willis how many properties do you have at this time? This is a pretty elaborate structure. I would make sure you have the right insurance, an umbrella policy and then even see if you can put your properties in LLC's.

Thanks for the reply! I don't have any properties yet, I just want to start everything the right way.

worry about all of this later as Jordan mentioned. Start with a property, getting good insurance on it and seeing how it goes from there.

Thanks for the advice. I think I will do that

0 Votes

Dallas, Texas

Quote from @Jordan Moorhead:

Thanks for the reply! I don't have any properties yet, I just want to start everything the right way.

1 Vote

Dallas, Texas

I'm wanting to form a Wyoming LLC as a starting point for my RE investment company. From there I plan on getting a Texas LLC and use the Wyoming as the owner of the TX one and others that follow. I've heard this is the best way to structure it so I have protection and so I'm not trying to do different RE strategies in the same company and end up with a mixed up mess.

As far as the details go, I have a few questions:

1. Would it be a foreign LLC, and how would taxes work if it was only used as a "holding company" to hold my Tx LLC? I read it would be taxed as a C corp since it's a foreign LLC. Not sure if this would apply to me since I won't be doing business in it...

2. How would taxes work with both? Would it be a complicated mess? I would get a registered agent for the Wyoming LLC but I'd rather not hire everything out when I'm just starting. I'm in college for a business degree so I know a bit of accounting and I can stay organized with paperwork and such.

3. Are there any problems with this structure?

-Thanks

1 Vote

Dallas, Texas

All Forum Posts by: Eric Willis

Eric Willis has started 1 posts and replied 3 times.

Post: Help with starting my LLC's

Post: Help with starting my LLC's

Post: Help with starting my LLC's