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All Forum Posts by: Kashyap Shah

Kashyap Shah has started 4 posts and replied 10 times.

Post: Asset Protection : Land Trust vs LLC

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5

I own an investment property in Austin and plan to acquire another by year-end. Seeking expert guidance on optimal structuring options:

1. What are the pros and cons of using a Land Trust versus an LLC for investment properties?

2. Can an LLC and individual owners be listed under a Land Trust?

3. What financing options are available when using an LLC with a Land Trust?

4. Does having an LLC on a Land Trust impact loan eligibility?

5. If I refinance in the future, will I need to modify my ownership structure?

Thank you for sharing your insights!

Post: Seeking Guidance on Transferring SFR to LLC in Texas

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5
Quote from @Chris Seveney:

@Kashyap Shah

What are you protecting against that insurance won’t cover you?

You doing this just to do this? If you already bought it in your name you really have zero asset protection


 Hello Chris , 

Thanks for taking time to respond. 

Wanted to structure LLC for Liability protection. I assume that Insurance will provide me protection against specific risks but not provide liability protection to personal assets.

Post: Seeking Guidance on Transferring SFR to LLC in Texas

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5

Hello fellow investors and experts!

I am new to real estate investing and have recently acquired my first investment property, a SFR in Austin, TX. I also have an LLC formed in Texas and am planning to transfer my SFR into the LLC for liability protection.

Could anyone provide detailed guidance on the steps involved in this process? Additionally, I would appreciate recommendations on the professionals I should contact to assist with this transfer.

Thank you in advance for your help!

Thanks, 

Kash

Post: Beginner Real Estate Investor

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5
Quote from @Dmitriy Fomichenko:

Hello @Kashyap Shah, it’s good to see you here on BP!

Read Beginner’s Guide to help you get started: http://www.biggerpockets.com/real-estate-investing

Best of luck on your REI journey.


 Hello Dmitriy , 

Thanks a lot for your comment. Will definitely go through the link that you shared

Post: Beginner Real Estate Investor

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5
Quote from @Jeet Sangha:

Hey @Kashyap Shah, how is it going? Have you been able to find any decent properties in the Fresno area? I also recommend checking out the Hollister market. Rents are strong and prices are relatively affordable compared to the Bay Area.


 Hello Jeet , 

Thanks a lot for your message. I am still in search of properties in the Fresno area and haven't found a decent option that aligns with my goals. I will consider and do some study on the Hollister market as you mentioned. 

Post: Asset Protection : LLC Formation for First Investment

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5

@Chris Seveney @Account Closed : Thanks a lot for your time to respond. This was really helpful

Post: Asset Protection : LLC Formation for First Investment

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5
Quote from @Jordan Moorhead:

@Kashyap Shah are you buying with cash? Most lenders won't allow you to put it in and LLC, it needs to be in a trust or your personal name.

I'm no attorney but I've never worried about being in an LLC too much when it's not allowed by lenders, I just make sure I have the right structure and insurance.

I put them in an LLC whenever I can but I've not found a traditional lender that will allow it.


Thanks a lot Jordan.. I am speaking with lenders to figure out if they allow to put the title to LLC. That would a starting point to figure out the next steps.

Post: Asset Protection : LLC Formation for First Investment

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5
Quote from @Martin M.:

@Kashyap Shah

A lot of your questions have been answered before in the forums. I'd start by searching through the forums.

Most importantly, insurance coverage > LLC for liability protection

That said, to answer your questions...

1. The LLC that will hold the property is often formed in the same state as the property. This works best for many investors

2. There is a lot of 'it depends' with this. If you have a WY LLC that owns a TX property and you get sued in relation to the TX property, the TX courts may not acknowledge WY's laws. This is a question you'd want answered by a TX attorney.

3. Check with the TX Secretary of State

4. In many cases an out of state LLC, also referred to as a 'foreign entity' simply needs to register in that state to do business. In your case TX

5. Yes. LLC laws are very state specific. The reason you hear so much about WY LLCs is because of their anonymity and 'charging order' protections, but things get complex fast when you get into a WY LLC actively doing business in another state.

Google WY Holding LLC. It sounds like this may be what you're looking for


 Thanks a lot Martin for your valuable insights

Post: Asset Protection : LLC Formation for First Investment

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5

Hello ,

I am Kash from San Jose,CA and I am a Rookie in the world of real estate investments. 

I am planning to buy my first investment property in Austin, Texas. 

I have a few questions related to LLC formation . I have heard that forming a Wyoming LLC is better for asset protection. So I do have following questions :




1) What are the benefits and drawbacks of forming an LLC in Wyoming versus Texas?

2) How will Wyoming's laws and regulations affect the management and operation of the LLC?

3) Are there any specific requirements or compliance issues for an out-of-state LLC owning property in Texas?

4) Are there any restrictions or limitations on the LLC's ability to purchase, sell, or finance property in Texas?

5) Are there any other legal or financial considerations I should be aware of?



I'd appreciate any guidance or recommendations. 

Thanks ,

Kash

Post: Beginner Real Estate Investor

Kashyap Shah
Pro Member
Posted
  • Investor
  • Posts 10
  • Votes 5

Hello Everyone , 

I am Kash from San Jose, CA. I am new to the real estate investment world. I am planning to buy SFH for long term rentals as my first investment in Austin,TX or Fresno,CA area. Looking forward to connect with people and educate myself in real estate investment.