Here’s a dumb question. I sorta posted on it in the Asset Protection forum, but I thought some folks might wanna share their experiences here.
What do you landlords out there name your LLC’s and Land Trusts?
I’m thinking of setting up a small Apt building (only 5 units) under an LLC which will be named sorta like the address of the building… IE: “123 Main St LLC”. And the tenants would write their rent checks payable to that LLC name. Does anyone out there do something like this?
If not, what’s the more common thing to do?
And what about Land Trusts? I’m thinking of using something like “XY Investment Trust” with the “XY” as the initials of my partner and I. (The Land Trust is the sole member of the LLC) What do some of you folks name your Land Trusts? Thanks.