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All Forum Posts by: Rebecca Miller

Rebecca Miller has started 1 posts and replied 2 times.

Tax, SDIRAs & Cost Segregation

Post: LLC to start, then Series LLC

Rebecca MillerPosted
  • Homeowner
  • Naperville, IL
  • Posts 2
  • Votes 2

Thanks for the advice everyone. I'm still trying to learn as much as I can before I start, and your replies were very helpful. It follows that a Series LLC from the very beginning is my best bet.

Joe, do you recall which podcast covered the Series LLC? It doesn't come up in the search, but I'd love to listen to it.

1 Vote
Tax, SDIRAs & Cost Segregation

Post: LLC to start, then Series LLC

Rebecca MillerPosted
  • Homeowner
  • Naperville, IL
  • Posts 2
  • Votes 2

I'm just starting out with real estate investing in Illinois, and have been looking into the advantages of the Series LLC. At this point, I don't have any rental properties, but I am getting close to being at the point where I can get one. My plan is to buy one single family rental or multi family every year or two.

There are some very good discussions on this forum about the Series LLC, and if done right with the advice of a good attorney, I think that this is the route I want to go once I have acquired multiple properties.

My Question:

Since I will be starting out with only one property, would it make more sense to go with just an LLC for the first property, and then when I am in the position to buy a second property, convert it to a Series LLC with two cells?

I've heard it is possible to convert an LLC to a Series LLC, but how easy is this to do? Does this leave a "trail" that would compromise the Series LLC?

1 Vote