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All Forum Posts by: Iva Robinson

Iva Robinson has started 1 posts and replied 2 times.

Illinois Real Estate Q&A Discussion Forum

Post: Master LLC/Series LLC

Iva RobinsonPosted
  • Investor
  • Harvey, IL
  • Posts 2
  • Votes 0

@Kimberly H.. Thank you very much for the non legal advise. Yes I did set up desperate accounts. @Asif I Thank you for your personal opinion. I will seek legal advise. And will search the website for further information.

0 Votes
Illinois Real Estate Q&A Discussion Forum

Post: Master LLC/Series LLC

Iva RobinsonPosted
  • Investor
  • Harvey, IL
  • Posts 2
  • Votes 0

Hello

I am a real estate investor for Illinois. I have purchased 2 single family homes in 2016. Both will be buy and hold to generate income. I am a have formed a Series LLC, looking to obtain more properties and form additional Series LLC's.

When I purchased the second property, I purchased using my Series 1 LLC, but when I purchased my first property, I did not purchase the property under a Series LLC, but under the Master LLC.

Is there a way to transfer the first property to a Series LLC? Is there any legal ramification if the property remains under the Master LLC and all other properties under Series LLC's?

Thank you in advance for assistance. 

0 Votes