All Forum Posts by: Kashyap Shah

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.

@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.

@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