dha75455
07-27-2013, 03:02 AM
What is the best business structure for a rental property business in Texas that will protect individual properties?
My family owns about 14 rent houses together , Mom and Dad own 8, my brother and I own 6.
Five properties of my brothers and I are paid for, three of my parents properties are paid for.
We are not flippers, we are long term investors/renters.
We would like to combine the properties that are paid for under a business structure (LLS, SLLC, SCorp) so we can use the collateral to start a retail business under a different LLC.
Everyone will equal partner regardless of contributions.
Average value of each property is about $55,000
Should I
Put them all under one LLC?
Each one under one LLC?
Two properties per LLC?
LLC with subsidiary?
Scorp
Series LLC.
Our goals is to use the collateral to start a medium sized retail store.
Thank you in advance for your help.
I believe in Karma and I will pay your help forward.
My family owns about 14 rent houses together , Mom and Dad own 8, my brother and I own 6.
Five properties of my brothers and I are paid for, three of my parents properties are paid for.
We are not flippers, we are long term investors/renters.
We would like to combine the properties that are paid for under a business structure (LLS, SLLC, SCorp) so we can use the collateral to start a retail business under a different LLC.
Everyone will equal partner regardless of contributions.
Average value of each property is about $55,000
Should I
Put them all under one LLC?
Each one under one LLC?
Two properties per LLC?
LLC with subsidiary?
Scorp
Series LLC.
Our goals is to use the collateral to start a medium sized retail store.
Thank you in advance for your help.
I believe in Karma and I will pay your help forward.