Posted by Marc on January 05, 2004 at 22:05:36:
You may also consider 4 separate LLCs for liability reasons. Your accountant may not appreciate you, however tenant falling down in property A can only sue against property A - not B,C, and D.
LLC - Posted by Dan
Posted by Dan on December 24, 2003 at 18:09:09:
Merry Christmas everyone. I am purchasing a package of 4 homes and wanted to setup an LLC after the first of the year (to save on having to pay any taxes, etc. for the business this year and to protect my personal assets in case something bad happens). My question is, how do I structure the LLC and manage the cashflow my 4 investments will be generating each month to get the most bang for my bucks, defer taxation, and put at least a little bit of money in my pocket each month? My intentions for the properties are to lease/option them for 2 years and then get paid in full by the buyers for the outstanding balances. I may have to take out a small mortgage in a year or so on each property so that I can pay off the person who is selling the homes to me as well, but by then the properties should show that they can support themselves and a small bank loan on each should not be a problem. Should I not be able to get these small loans (playing conservative here), what would be the next best thing to do be to pay off my notes to the orignal seller so as to avoid defaulting? Thanks for your input in advance and Happy Holidays!
Re: LLC - Posted by Rich[FL]
Posted by Rich[FL] on December 25, 2003 at 18:35:52:
Dan, this is the cashflow forum where investing in discounted cash flows (primarily mortgages) is discussed. What you’re asking can be found on the financing forum (getting loans) and the legal forum (LLC structure).
I’d recommend getting Bronchick’s course on asset protection and forming LLCs and LPs for more detailed info.
Hope this helps.
Rich