All Forum Posts by: Kris Abejuela

Thank you all for your input, everything said hits hard to me and makes me think deeper. I am getting closer to deciding that I'm probably going to open up a LLC in Cali as a holding company then branch from there to other LLCs. Heard many good points about all aspects, but logically I think this one makes the most sense. I am giving up anonymity because i believe that if someone really wants to get you, they will get you. Also I don't think I have enough assets yet to deal with the headaches(paperworks) of creating the Wyoming LLC and nominee directors with yearly fees on top of each phase.

I do see that when I start to become more successful and bigger I may adapt the other more sophisticated models. I spoke with my CPA who basically advised me on the Cali LLC and the out of state one. CPA advice good enough? Or should I still seek advice from an attorney? At this point I feel like I understand the risks/benefits?

thanks all for your advice! Very helpful! I love this community! 😆

@Ned Carey

Thanks for the in depth response and input! Currently I have no properties but do want to do things "properly" and safely if I want to grow my future. I was thinking about starting off with 4-5 rental properties in class C neighborhoods to maximize ROI. I viewed these homes and do suspect it may carry higher than average risk. I do have current assets I do not want seized in a lawsuit.

I already have a property manager, realtor, financing, and all the other pieces placed together. So I am excited to jump. I know that if people wanted to find me a subpoena would suffice if I was to get sued, but I just wanted an extra layer of protection for that and so people can not view who owns the LLC through public records (Wyoming). Thus the "parent company" which has different LLCs in the different areas I plan for the future.

I want to start buying investment properties. I want to set up a legal system correctly from the beginning to protect me from potential lawsuits. I want anonymity. I have been looking at different companies that provide physical address, mail forwarding, attorney and tax id, and nominee directors. These companies range from 4K-12k for their packages. Does anyone have any advice for someone like me starting out. I can’t imagine starting -12k right from the beginning before I even start bidding for properties. Oh yea and yearlies for the agent and mail forwarding ~1k.

Thanks.