 Mutiple Rentals in 1 LLC (by Bren [NM]) Mar 25, 2008 9:05 AM
 Mutiple Rentals in 1 LLC (by James [MA]) Mar 25, 2008 9:11 AM
Mutiple Rentals in 1 LLC (by Antoine [LA]) Mar 25, 2008 11:46 AM
Mutiple Rentals in 1 LLC (by Rusty [MD]) Mar 25, 2008 4:47 PM
Mutiple Rentals in 1 LLC (by Bren [NM]) Posted on: Mar 25, 2008 9:05 AM
Message:
State Specific Question About: NEW MEXICO (NM)
Hello - we've got several different scenarios from attorneys and have gone back on forth on this subject -
If you have a few rental properties scattered in 2-3 states, should you set up an LLC for each property in that state? Currently we have one for all, and we have insurance and umbrella insurance on all. Thanks -
--76.171.xxx.xxx |
Mutiple Rentals in 1 LLC (by James [MA]) Posted on: Mar 25, 2008 9:11 AM
Message:
You either set up in each state or register in each state. The cost is the same. The only consideration IMO is taxes. --192.234.xxx.xxx |
Mutiple Rentals in 1 LLC (by Antoine [LA]) Posted on: Mar 25, 2008 11:46 AM
Message:
I say set up one separate LLC for each one. Contact a lawyer ask about an LLC that you can set up and have components go to specific properties. I know that it is available if the LLC was set up in Nevada (obviously yours isn't).
The L.L.C. is supposed to limit your liability so I would think that one would want them separate so that each rental is its own entity (for lawsuits and such) vs. some person trying to sue you for all of your properties.
Good Luck Though! --192.44.xxx.xxx |
Mutiple Rentals in 1 LLC (by Rusty [MD]) Posted on: Mar 25, 2008 4:47 PM
Message:
Depends on your state. Check w/ a lawyer. In Md., every LLC has to pay $300/yr just to exist. Legislature is trying to raise it to $1000/yr. --71.166.xx.xxx |
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