All Forum Posts by: Uma Subramaniam

@Mike 

@Mike S. Thanks for your details on Series LLC. Initially we thought Series LLC was a perfect match but soon found cost of setting that up is quite high and seems it would always need an attorney's support.

@Dani Beit-Or Thanks for your detailed response and appreciate sharing your experience. I read that using quitclaim deed to transfer property to an LLC can void the title insurance, survey, etc and cause other issues later. Currently we are leaning towards a simple set up with a single LLC and add an excess liability or umbrella insurance. Thanks again for taking time to address some of the key points.

Thanks Ahad for the detailed explanation, lot of helpful tips!

In Texas, LLC set up fee is $300 with no annual expenses. Texas being a community property state, for all 3 options we can set up the entity/entities as single member disregarded entity with both my husband and me as members and still report under our personal tax return. Please correct me if I'm wrong.

I'm more interested in asset protection aspect of the LLC structure.

My husband and I are real estate investors in Dallas-Fort Worth area in Texas. We currently have 15 Single Family rental properties on our personal names and are in the process of getting a commercial portfolio loan for 70% LTV. We are exploring options to set up the correct LLC structure.

1. Single LLC to hold all 15 properties - Lender prefers this to keep the underwriting simple and helps us with lower origination cost

2. Series LLC - Seems not every one is on the same page (CPA, Attorney, Lenders, Banks, Title Company, etc) - An Attorney is asking $6,500 to set up the LLC and series. Any recommendations?

3. Single Member Disregarded LLCs for each property - Will a single mortgage for all properties affect asset protection?

Any suggestions on an efficient LLC structure both from the asset protection and property management perspective? Thanks in advance!