All Forum Posts by: Jecarl Viray

@Jaysen Medhurst Thanks Jaysen!

Hi BP,

I'm from LA and I'm thinking of creating asset protection for my rental properties but I'm not sure how to avoid the CA franchise fee. One legal company that I talked to said to create an LLC on the state where the property is located, which is Indiana, Ohio and FL. They also said to create a WY holding LLC for anonymity and to avoid paying the CA franchise fees. The other legal company told me the same except that I will still need to pay the CA franchise fee despite having the WY LLC.

Can the WY LLC really avoid the CA franchise fees?

I’d also like to hear about the experiences of the CA investors investing in other states, how they set up their asset protection entity and if there’s a way to avoid the CA franchise fees legally.

Thank you in advance!

Jecarl

@Mark Fries Please send me your contact information. Thanks Mark!

I’d like to get recommendations for a great realtor, wholesaler, contractors and property management company in Jacksonville FL that deals with investors and knowledgeable on the area and real estate investing. Thanks in advance!

@Mike D'Arrigo I asked my CPA twice and he said the same thing. I think he just wants to profit from creating the LLC for me. I already have a phone appointment with a new CPA here in LA. Thanks for your advice.

@Scott Smith I'll check on the DST. Thanks for sharing this informations.

@Katie Lepore Great information. I’ll check on the new 20% pass thru and see if I qualify. If you know a good CPA in LA that specializes in rental property investment, let me know. Thanks!

@Harvey Levin I heard that too from a lawyer. I heard that you can’t sue/ evict your tenant if you are not registered in the State where your rental property is located. What if you have a property management hired? Will that make a difference? Thanks for your advice.

@Twana Rasoul I think I need a new CPA. Spot on the real estate professional. Great advice, thanks!

@Eamonn McElroy Great information. Thanks!