Better to form a new LLC with the individual as 50% owner and your existing LLC as 50% owner, and have the LLC own the land 100%.

Looking to form a monthly REI meeting in Bluffton, if anyone is interested, please PM me. 

The way that it works out on my pro forma is that I have to attract a great tenant and have some maintenance free years at the beginning to build up a capital reserve.

I get about 20 of these a week literally and will call maybe one.... and well it can be pretty brutal listening to someone reading form a script..

That's especially true if you intend to form a 50-50 LLC.

Hi Everyone, My business partner is a foreign developer wanted to form a subsidiary in the U.S.

(note, my "repair est" I'm not concerned with it be slightly off I've budgeted for 10k surprise, and the "ARV" is based on my own comps, not my realtors yet)Purchase: 54kClosing: 2.5kRepairs: 12kProj Cost: 68.5kARV: 90k2 months to rehab, 6 to refiPurchased w/ traditional 30yrDown Payment: $10,800.00Loan Amount: $43,200.00Loan Points/Fees: $0.00Amortized Over: 30 yearsLoan Interest Rate: 6.13%Monthly P&I: $262.49Total Cash Needed At Purchase: $25,300.00Refinance: W/ Traditional 30yrLoan Amount: $67,500.00Loan Fees: $1,000.00Amortized Over: 30 yearsLoan Interest Rate: 6.13%Monthly P&I: $410.14Total Cash Invested: $1,744.84Expenses:Vacancy $91.00 (7%)Repairs $65.00 (5%)CapEx $65.00 (5%)Water & Sewer $30.00 (2%)Garbage $14.00 (1%)Insurance $215.00 (17%)Management $130.00 (10%)P&I $410.14 (32%)Property Taxes $58.33 (4%)Total $1,078.47 (83%)Monthly Income:                    Monthly Expenses:               Monthly Cash Flow:                    Pro Forma Cap Rate:$1,300.00                                     $931 / $1,078                          $369 / $222                                       8.42%NOI                                          Total Cash Needed                   Cash on Cash ROI                        Purchase Cap Rate$7,580.00                                      $25,300.00                            17.5% / 152.4%                                   14.04%So am I missing something here?

Here are some numbers for you to digest. 1.Form a LLC, I used Legalzoom - $600, I think an attorney in NY will do it for $1,000 - $1,500a.Make LLC complianti.Publication - $500ii.Need operating agreement – additional cost if you have an attorney draft one b.Annual filing with NY state of the LLC, min $25 if no profit.2.Transfer deed to LLCa.For Nassau county, attorney will do it for $1,500b.If you do it yourself, recording fee is $1,0003.Tax seasona.Depends if the LLC is single member or multi members; Multi-member LLC offer better protectioni.Multi-member LLC will require the CPA to file K1s for each member, additional costNow you have your properties in a LLC are you protected?

The lawyer I spoke to suggested I form a holding LLC, and one LLC per property to protect each property's assets from the other properties.

Your LLC would form a partnership with other people to own the property and it gets complicated.