During the last decade of limited liability companies (limited liability company - LLC) have become the preferred company form for purchase and real estate in the United States. Despite the benefits offered by an LLC, is not necessarily the best way to acquire real estate for all people. For many investors, the cost of forming and maintaining a company uncertain demand possibility not worth.
BENEFITS OF PURCHASING THROUGH AN LLC
CAN I OPEN A LLC FOR EACH PROPERTY?
Greater protection can be obtained through the formation of an LLC for each property. Thus the investor limits liability to each of the properties. If multiple properties are under a same LLC, the responsibility of a property could expose other properties. Conversely, if each LLC is the owner of a property, the maximum liability shall be subject only to that property.
However, due to the costs of opening, administration and maintenance of multiple LLC, is common to investors to maintain multiple properties under a same LLC.
COST ESTIMATES OF A LLC
WOULD THAT YOU NEED TO OPEN AN LLC?
HOW LONG DOES THE OPENING PROCESS TAKE?
The process takes between 3-5 working days in Florida and 5 to 7 working days in Delaware.
Florida vs Delaware LLC
The difference more elemental between one and the other is the privacy.
I BOUGHT A PERSONAL NAME, I CAN TRANSFER IT TO AN LLC?
It is important to plan this before carrying out the transaction, however, if I already make the acquisition to personal name, while it is possible to transfer the property, it is important you advice with an accountant and/or attorney to analyze your case specific and to determine the possible implications legal and financial. Among them, it is important to determine:
LEGAL Note: These provisions are complicated and require the expertise of a real lawyer and/or accountant to evaluate the potential implications. At any time you must take this information as advice.