I live in TN and have accumulated a few rentals. My question is in reguards to LLC vs. SUB s. It costs $100 to form a sub s but $300 to form a LLC and $300 a yrs to maintain. Any suggestions or comments?
Mr TN investor,
I would sit down with a good attorney and find out what corporate entity is best for your investing scenario. Once the attorney advises you then if you like you can set it up as long as you follow his/her guidelines. I would then setup up land trusts to protect your properties and use the LLC or whatever and make that entity the beneficiary in the land trust for each of the properties you have.
There are actually 30 benefits to using trusts in your investing. The only bad thing is TN does not legally by state statue recongnize the non-partitionality of beneficial interest in the trust so your asset proection feature is diminised but there are other great benefits you can use.
If you like more info my contact info is in my signature file. I invest using land trusts and I can not think of a better way to conduct your R/E transactions in a more legal, ethical and safe matter.