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All Forum Posts by: Kyle Reynolds

Kyle Reynolds has started 1 posts and replied 2 times.

Post: Should I start a LLC for my rentals?

Kyle ReynoldsPosted
  • Vestal, NY
  • Posts 2
  • Votes 0
Originally posted by @Antoine Martel:

Kyle.

The way that I have it set up is that I have one LLC for each rental property. Those LLC's are all owned by the same banner LLC so that one income tax return is filed.

Antoine,

I've been looking into this LLC structure more and I really like the idea. I have an accounting question, would I need an account for each LLC or just the parent LLC

Post: Should I start a LLC for my rentals?

Kyle ReynoldsPosted
  • Vestal, NY
  • Posts 2
  • Votes 0

So i currently have 3 rental properties in my name only. I am ion the process of acquiring 3 more.I also plan on expanding as often as the opportunities come about. I am considering starting an LLC for the rental properties I have. My question is should I do a LLC for each one, would i need a separate bank account for each LLC/property, or should I have multiple LLCs own 2 or 3 properties each. I have also considered starting a LLC in the near future that would act as the property management company. Looking for thoughts and ideas that have worked for others in the past.

Thank You