All Forum Posts by: Lee G.

 @Lee Goss I am in a similar boat and I have been listening to bigger pockets Podcast 109  and 595. these are the AP podcasts. I am also listening to podcast with CPAs that also offer good info on how to deal with llc and keep them compliant and tax stress to be minimal. Search for Amanda Hn, Tom wheelwright, there are 2 other frequent CPA but i forget their names linda? and josh? They help answer some questions on @David Greene's podcast. 

I did find Anderson Business Advisors and they have a lot of useful info on youtube under Clint Coons esq., Brian Bradley esq, from episode 595. Don't listen to the non laywers as some of just shills for their youtube channel or llc creation services. 

Call up a few AP lawyers in CA once you are ready to discuss some of your concerns. The more you learn the better before you talk with the final contenders for your service. 

YOu might get overwhelmed with the info, that's where I am but keep going and you'll reap the benefits of a good strategy and rest easy at night like the posters above.

I think the best thing to do with the set up an LLC in your state to start. Many people spend a lot of time on asset protection and they have no assets or only a few assets to protect. I spent a lot of time setting up a NV LLC and it was a big waste of time and it costs a lot of additional money and not just one time but each year.

You could have each property deeded into a trust (like a land trust) and have the beneficiary of that trust be your LLC which will give you anonymity (from trust) and the LLC gives you asset protection. Your LLC could own more than one property in that scenario and avoid some of the CA fees.

@Lee G. yes I do.  It was set up by Anderson Business Advisors many years ago.  I sleep a lot better at night.

Good Investing.