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General Questions
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LLC
- Does it cost more to own a traditional LLC or a Series LLC?
- What is the difference between a traditional LLC and a Series LLC?
- Will any changes need to be made if using one business account for all properties and utilizing Quickbooks to track the revenue/expenses of each series using class tracking?
- Can my minor child be a trustee of my agent trust?
- Is the SLLC Foreign Filing Fee required in each state?
- Is a Series LLC right for the type of business I want to run?
- If my LLC is formed in a state other than my home state, do I need to register the LLC in my home state as well?
- What are the fees for setting up and maintaining an LLC or a Series LLC?
- In what way do I sign on behalf of an LLC that is doing business under a “doing business as” (DBA)? E.x. Real Estate Business LLC with a doing business as registration of REI Investors
- Can I add anonymity to an LLC that was created without it?
- How do I sign for an LLC that is owned by a trust, of which I am the trustee?
- What is an Agent Trust?
- How is my Series LLC related to my Property?
- Whats the benefit of getting a Series LLC over just putting properties into a land trust?
- What should I call my LLC Or DBA?
- Why do I have to give you my Social Security Number, isn't this supposed to be anonymous?
- What are the annual requirements of an LLC?
- How do I sign for an LLC that I own personally?
- How do I pay myself from the LLC?
- Can we hold more than one (1) property in a Land Trust connected to our Trad LLC?
- If we self manage, is a Traditional LLC necessary for managing our properties?
- How do I sign on behalf of an LLC that is doing business under a “Doing Business As” (DBA)?
- How is money moved into an LLC?
- Should my homestead property be held in an LLC?
- Should my traditional LLC be insured?
- Will my LLC be recognized in other States?
- This will be a cash purchase, should we use the LLC’s name or our individual names?
- When opening a bank account for the business, what business name do I use? How do I go about obtaining an EIN for that purpose?
- If we want to pay ourselves is it best to take it from our Trad LLC operating entity or from our Series LLC bank and how do we note that on our spreadsheets?
- If I have an account for the Series and the Traditional which account would I pay bills from
Series LLC
- What is a Series LLC?
- What are the benefits of a Series LLC?
- My property is located in a state that does not allow for the creation of a Series LLC. Will it still recognize the Texas Series LLC?
- How difficult is it to form a Series LLC?
- Once the property is transferred into the Asset Holding Series LLC, what do I do with insurance?
- Who owns the asset holding company?
- How does the money flow if you have the Series and the Traditional LLC?
- Can I hold properties directly in the Series LLC?
- In Texas, how much savings would one be looking at by having 3 LLC's in series structure vs 3 separate LLC's?
- Can I name my Series the same name as my Traditional LLC?
- As a California resident, should I form my Series LLC in California?
- What are some of the miscoceptions about the lack of history and novelty of the Series LLC?
- Can I establish a Series LLC in my state?
- What is the advantage of having a Series LLC over Multiple Traditional LLCs for real estate investments?
- What are some general rules and guidelines for holding various real estate equity in a Series LLC?
- How will I report my taxes from my Parent Series LLC?
- What types of assets can be held in the same Series LLC?
- Can each child series have its own EIN?
- Who controls the Series LLC?
- How much money or equity you should keep in a series llc?
- What is my public facing title in regards to the Series LLC?
- What can I do to keep a SLLC from being "pierced."
- How does a Series LLC impact my ability to obtain financing?
- Can I use my existing LLC as a parent or child in my Series LLC?
- Why is a Series LLC better than a traditional LLC?
- Which real property should be held in the Series LLC?
- How difficult is it for a lawyer to figure out who owns the Series LLC, meaning it isn't really that anonymous?
- Is there a filling fee/ creation cost for each child series?
- If a different bank account will be utilized for each property in the series LLC, are the accounts opened in the name of the parent LLC or the child series LLCs?
- How does transferring my properties from my name to the series LLC and/or land trust impact my title policy?
- Should I use a C-corp or an SLLC for my real estate business?
- Will a Series LLC in one state hold up in another?
- If I set up my bank account with the Parent Series LLC EIN in the state in which I live, is the Parent Series LLC considered doing business in that state and must register?
- How can I create an individual child Series?
- Do I set up my rental agreements, or other agreements such as property management, in the name of the Parent Series LLC?
- How does the lack of case law surrounding the Series LLC impact its effectiveness?
DST
- Delaware Statutory Trust (DST)
- What is a DST?
- Once I setup a DST, can I keep the same bank accounts which are under my current LLC's or would I need to open new accounts? Is it possible to just have the bank change the bank name but keep the same
- Can an assignment of interest be used to transfer assets into a DST?
- Why is the DST Ideal for CA residents and investors?
- What assets can be held within a DST?
- Do I need multiple bank accounts for my DST or one bank account set up for the DST?
- How private is my DST? Can someone search for it publicly and find out that I am running it?
- What type of annual maintenance is required for a DST?
- Should the DST be used for active investments, passive investments, or both?
- How does the liability protection offered by a DST compare to the protections offered by a limited liability company or corporation?
- I have a lot of carry over losses on my properties right now that I’d intended to use when I sell them to lower my taxes. Will this go away if I put the properties in a DST or trust?
- If I place my homestead in the DST, will I lose my homestead exemption?
- Can I use the DST to purchase real estate in all 50 states?
- When I transfer title to a trust or DST, does it trigger a re-assessment for property taxes?
- I have been told that putting all assets into a trust is risky because if found, all of them are vulnerable/liable. Is this true of the DST?
Equity Stripping
Estate Planning
- If I and my partner get hit by a bus, how do I ensure that the trustee of my personal estate can step in to manage the assets of the LLC?
- For estate planning items: Can the witnesses that sign documents be relatives?
- Should I use a regular will or a comprehensive real estate plan?
- Why do we need an alternate agent or representative?
- Can we make specific wording in our Living Trust if we want to make sure a specific person is listed?
- What do we need to fill in on the Exhibits at the end of the Living Trust? Do we fill those in or someone else?
- Should we make copies of the Estate Plan and who should get those?
- What does a comprehensive estate plan include?
Land Trust
- What is a land trust?
- How is a land trust different than an agent trust?
- Does the transfer to a land trust violate the “due on sale” clause?
- Should there be a separate land trust document for each property?
- Can I buy the property directly in the name of the Land Trust?
- What is a nominee trustee?
- What address should I use for a land trust when I am recording a deed?
- I want to refinance my property but it's owned by my trust! What do I do?
IRA
- How much can I contribute annually to my IRA?
- Can I claim all of my IRA contributions?
- What is a custodian and what is the role of a custodian in the IRA process?
- Should my spouse or children be the beneficiary of my self directed IRA or should I list my living trust?
- What is a self-directed IRA, or SDIRA?
- If my primary reason for establishing the IRA is to receive income from and pay expenses for rentals electronically, do the underlying properties need to be transferred from the IRA into the Trust
- Can I get a loan to buy real estate with my IRA?
- What is a checkbook-control IRA LLC?
- Is my IRA contribution deductible?
- Can I contribute to a Traditional or Roth self-directed IRA if I’m covered by a retirement plan at work?
- How can I make a Roth IRA contribution if met the maximum income threshold?
- Can I establish a self-directed IRA if only my spouse is making income this year?
Self-Directed IRA
- What is a Self-Directed IRA?
- Does having a SDIRA make me more likely to be audited by the IRS?
- My current CPA believes there is an incurred 39% tax if I switch to a SDIRA and has warned against doing so. Is this true?
- What is the typical timeline to open a SDIRA or 401(K)?
- Can I add more properties to the IRA LLC/Trust to manage them similarly?
- What restrictions are there on using a self-directed IRA?
- Can a Self-Directed IRA own hard assets, like vehicles?
- How do I get money out of the Self-Directed IRA?
- My IRA purchased a land contract for a home. Do I have any personal liability for this contract? If so, how can it be limited?
- An IRA Trust, as opposed to an IRA LLC, is not registered with a state. So, where is it registered?
- What can a self-directed IRA invest in?
- Can my self-directed IRA invest in my personal business, company, or deal?
- Can I form the IRA Trust in a state other than the state in which I currently live?
- Does investing via an IRA Trust change any rules on how I qualify for the accredited investor status?
- What does the annual compliance fee for the SDIRA include?
- Can I make SDIRA contributions after age 70 ½?
- How is a Self Directed IRA ("SDIRA") different from other retirement plan options?
- What assets can I invest in with a Self-Directed IRA? Are there any limitations or restrictions?
Funding My IRA
- How can I transfer funds into my new account?
- How long does a transfer take?
- What is the difference between an indirect and direct rollover?
- Can I rollover or transfer my existing retirement account to a self-directed IRA? I have a 401k account with a current employer.
- Can I rollover or transfer my existing retirement account to a self-directed IRA? I have a Roth IRA with a bank or brokerage.
Managing My IRA
Solo 401K
- How does a Solo 401K work?
- How do I use my Solo 401k?
- What can my Solo 401K invest in?
- Is RLS the custodian of my Solo 401K?
- What forms do I need to fill out for the IRS for my Solo 401K?
- How do I operate a Solo 401K?
- What all do you guys do to set up and/or run the Solo 401k?
- How do I set up a loan between the 401K and myself?
- What is the max amount I can loan myself?
- What is the max amount I can contribute per year?
- Should I use an individual 401k instead of a self-directed IRA?
- Can I contribute to my Solo 401k and match it if I'm filed as an S-corp?
- What should I do with my 401k: keep contributing while my employer will match contributions, or set some money aside to fund my first real estate investment?
- Who is the custodian of my Solo 401k?
- Can my spouse get a Solo 401k too?
- How do I get money out of my Solo 401k?
- What assets can I invest in with a Solo 401k? Are there any limitations or restrictions?
- Can a Solo 401k own hard assets, like vehicles?
C-Corp
Banking
- Who's name and address goes on the bank accounts?
- Do I need a separate bank account for each property?
- How do I fund my Series LLC and how do I receive the income generated from my properties?
- What documents will the bank need to open the new bank account?
- What entity should I open a bank account in?
Creating and Maintaining your Asset Holding Company
Operating the Business Entity Outside of Texas
Purchasing New Property
Property Transfer
- I signed my deeds but never sent them in for recording, why are the properties still in my name and not in my trusts?
- What is the process for an out of state property transfer?
- I checked the assessors website and see that my personal name is still listed, does this mean that my deeds were not recorded?
- Can I use an electronic notary to sign my deeds?
- My wife doesn't own the property, so why does she have to sign the deed with me?
- If I use a property management company, what name do I list as the owner of the home?