Posted by JHyre in Ohio on July 19, 2002 at 08:52:48:
I strongly question whether the advice you were given is correct…what you are dealing with are essentially flips, especially on the sandwich L/O’s, and are typically best held in corporation or limited partnership form. Using trusts to hold LLC interests may keep your name off of public records, but also can have negative asset-protection implications (could allow creditor to get around charging order protection)…really a state-specific question, so I have no good answer on the privacy issues.
Hello To All! After taking with an accountant and a lawyer, they informed me to form a LLC to do wholesale, sandwich lease (out in 1 year) and subject to by selling with lease option and also cashing out in a year. Question- for the articles or orgainization for a LLC and keeping my name off of public records what is the best way to deal with the name of the initial agent, name of organizer and member and managed by? Thanks ahead of time!