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Scott Smith from Royal Legal Solutions joined us in the Financial Freedom Academy private group to discuss the benefits of using series LLCs for real estate investing.
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What a Series LLC Is and How It Works
A series LLC is a type of limited liability company. A series LLC has one parent entity, and it can have an infinite number of children LLCs. Although not all states allow a business to form a series LLC, once it is formed it can be used anywhere in the country. This structure provides the most legal protection, and it is the most cost-effective strategy. There is no additional cost to add more LLCs to the series.
Series LLC vs. Traditional LLC Structure
In the traditional hub and spoke LLC model, you have to pay to create each entity, maintain them, file documents and separate tax returns. The bigger that you scale in real estate investing, the more complex the traditional LLC structure becomes. The advantage of setting up a series LLC structure is that you are able to set up one company with one EIN, and file one tax return.
Which States Are the Best for Setting Up a Series LLC
Texas, Wyoming, Delaware, and Nevada
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