Posted by Mike on January 28, 2000 at 22:37:23:
Bud,
What is the best way to hold rental properties in an LLC? (Should each property have its own LLC to protect more assets? or is it even feasible to have multiple assets with their own LLC each?) I am just learning about the LLC and can see the advantages for taxes, but how does a managing C-Corp change those tax advantages? Thanks.
\Mike
Why not incorporate in Texas? - Posted by BILL
Posted by BILL on January 27, 2000 at 13:46:48:
What would be the disadvantages to incorporating in Texas if I am renting single family homes?
Re: Why not incorporate in Texas? - Posted by Bud Branstetter
Posted by Bud Branstetter on January 27, 2000 at 13:58:12:
Hello Bill,
Enjoying the sleet/snow and cold? The disadvantage is the $350 it costs in filing fees and whatever you pay for directions. The preferred method in most places is to own the rental properties in a limited liability entity(LLC or FLP). Then have a C corp manage the properties and be the general partner. You would own the majority interest in the entity as a limited partner. Give me a call if you want to discuss more.
Bud