All Forum Posts by: Gav Chen

Thank you both! Really appreciated!

@Aaron W.
@Michael C Williams
I have talked with my lender. It seems, if I have transfer the property title to the entity with the same owner, it doesn't really impact on the current mortgage. In this case, I do not need to apply for any commercial loans. I have also did some research on umbrella policy (e.g. https://royallegalsolutions.co...) after reading your replies. I think I definitely need to consider to purchase an umbrella policy even if I have a LLC to hold the asset. Thanks!

If I do not hold the asset using a LLC, umbrella insurance seems to be necessary for me.

Hello all,

I recently bought a residential property and now am in the process of looking into setting up a company structure to protect my interest and assets. I live in California state. I'm thinking to do some remodelling. However, I might want to do a several more remodel projects in the future. 

My questions are:

1) Should I set up two separate LLCs? One for holding the property and the other for dealing with contractors.  

2) If I have multiple projects in the future, is there any benefit if I set up a holding company to hold those LLC?

Thanks!