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Changing the name of my LLC (or starting new one) vs. doing a DBA
Posted on 10/18/12 at 11:01 am
Posted on 10/18/12 at 11:01 am
Hypothetical situation:
Say I have an LLC for a snack and soda vending machine business. I want to buy some real estate through the LLC versus setting up a new LLC (or changing the name). I want my future tenants to write their rent checks to Affordale Housing Solutions versus Affordable Snack Solutions.
All of the above names are completely made up, but you get the point. Can I just file the paperwork with the SOS to set up a DBA through my current LLC? Is there an advantage/disadvantage either way?
Say I have an LLC for a snack and soda vending machine business. I want to buy some real estate through the LLC versus setting up a new LLC (or changing the name). I want my future tenants to write their rent checks to Affordale Housing Solutions versus Affordable Snack Solutions.
All of the above names are completely made up, but you get the point. Can I just file the paperwork with the SOS to set up a DBA through my current LLC? Is there an advantage/disadvantage either way?
2
Posted on 10/18/12 at 10:14 pm to BullredsRus
Set up a new LLC.
I've seen several real estate investors who have multiple LLCs, each of which owns a different property or set of properties.
I've seen several real estate investors who have multiple LLCs, each of which owns a different property or set of properties.
Posted on 10/18/12 at 11:00 pm to BullredsRus
Why would you do this?
Posted on 10/20/12 at 4:24 pm to OTIS2
quote:
Why would you do this?
Spreads the liability out. If one gets sued and goes bankrupt the others live on.
Posted on 10/21/12 at 9:41 am to MikeBRLA
quote:We professionals refer to it as asset protection. LLC's are typically used to segregate assets into separate risk pools. Typically this is done using a separate LLC for each separate investment, or for a targeted dollar value for a group of smaller investments.
Spreads the liability out. If one gets sued and goes bankrupt the others live on.
Posted on 10/22/12 at 9:41 am to Bestbank Tiger
quote:
I've seen several real estate investors who have multiple LLCs, each of which owns a different property or set of properties.
plenty banks now will not finance to LLC's.
You have to transfer title through a quitclaim deed to your LLC.
problem is some lendors have a DOS clause if you do that and want full payment after transfer.
speaking of which any real estate attorneys post on this board???????
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