All Forum Posts by: Kevin Leslie

I have asked that question a few times, and each answer is typically polarized to one side or the other. This has to be the most thorough answer I have gotten yet. From what I have deduced from your response, there is no need for overcomplexity as long as I do not pierce the corporate veil. I am still leaning toward the holding company, but mainly for anonymity and passing assets down to my children. I also like the idea of an LLC for each type of business over one for each address. My online companies each have their LLCs formed already. I appreciate the thought-out response.

The wife and I have been looking to get into rentals for some time now, section 8, to be specific. I own a few online businesses and in negotiations to purchase another local physical business within the next month or so. I have been looking into setting up a holding company in Wyoming for asset protection and moving all businesses and future rentals into this holding company. From what I have read, most internet "gurus" suggest putting each property into its own LLC, 123 Main St. LLC, for example, and then placing this LLC ownership under the holding company. My question would be, is this a good idea, or am I creating unnecessary complexity in the business structure? I would much rather do it now before acquiring the properties than do it later.

This may need to be taken with a grain of salt, but I have looked each up on Trustpilot and included the scores below. Reviews include landlord and applicant reviews, so take it for face value.

Myrental (CoreLogic) - 3.2 Stars: An average rating indicates that some users may have experienced issues, but CoreLogic’s established presence in the industry might still offer reliability.

mysmartmove.com (TransUnion) - 2.9 Stars: This below-average score suggests that there might be significant drawbacks, possibly in customer service or user experience, despite the reliability of data provided by TransUnion.

Turbotenant - 3.6 Stars: Slightly above average, this rating suggests that while the platform is generally satisfactory, there might be some areas that need improvement. Turbotenant’s free tools can be a plus for first-time landlords.

Avail (Realtor.com) - 3.9 Stars: A solid rating close to 4 stars, indicating that most users are satisfied. Avail offers a comprehensive set of tools for landlords and has the backing of Realtor.com, adding to its credibility.

Rentspree - 4.4 Stars: The highest-rated service in the group, Rentspree is likely to provide a smooth and reliable experience for both landlords and tenants, making it a strong option.

Rentredi - 3.5 Stars: This rating suggests that Rentredi offers a decent service with some room for improvement. It might be worth exploring if its features align with your needs.

Identingly.com - 0 Stars (no reviews): With no reviews, this platform is an unknown quantity. It might be new or not widely used, so it’s best to approach with caution until more feedback is available.