LLC Formation Questions

[StarTrekDoc]

Nothing is have to.

Most LLC require a physical address. You can certainly even use your office address itself. Wouldn't put your own home though and LLC name no your name.

agent yourself is fine as are managers if you want to KIS. Not really hard.....
the articles of incorporation and maintenance are the basic things you have to setup right. If you are doing this for the family LLC,but some effort and planning into it for asset and wealth transfer plans.

[Kia2017]

Thank you for the responses. Do I need to do all that stealth work if I am investing in the real estate of my own medical practice?

[StarTrekDoc]

It's worth that cost of setup professionally the first goaround especially it as your main LLC for the household business and then layered LLCs in the future for future real estate businesses.

A key benefit of LLC is it helps anonymize the investor abd lowers risk to nuisance suits just because they see a doc as a target.

for our main LLC... we use a business address (UPS box is fine) and federal EIN for the main LLC and even house that in Nevada.

For real estate we created another LLC to hold that and our LLC are principals for that. Now you can create yet other LLCd for each property, but we simply put them all in a single LLc given the California costs of LLC and the financial and legal risks of single family homes are a bit lower than commercial and multi housing that we are comfortable for this. We also use a real estate management company to be that middle person to further be 'stealth' to lower the physician target potential.

You'll be surprised how many professional renters/nuisance suitors are out there

[jacoavlu]

100% agree. Pay a lawyer

[jfoxcpacfp]

These questions are pretty nuanced and specific, as opposed to general forum advice. Respectfully, you really need to meet with a professional.

[Kia2017]

Hi everyone! Let me give some background of what I am trying to do. I plan on buying into the real estate of a multi partner practice in Texas. We have two buildings that I am buying around 25% ownership in. Our practice is taxed as a "pass through S corp" and the other docs have their share of the real estate in the own individual LLC's so I was told it would be best to form my own LLC. I plan to form the LLC on my own (lawyers fees ranged from 1K-2K). I have a few questions filing out the paperwork that I would greatly appreciate your collective wisdom on:
1. It seems like people form LLC for investment properties they own outright, does the same pros/cons go with an LLC of percentage owned commercial real estate?
2. I plan on naming myself as the agent and not using a outside agency. Also will use my home address for the agency address. Any problems with those issues?
3. Any pros/cons of putting my wife and I has co-managers? Do we both have to sign in order to change anything? Is there a way were we both can be as named on the LLC but I do all the managing alone? If so, how? It only asks for a registered agent and then name of governing bodies so I don't know how to put her on the LLC and make me the manager
4. I was told that if there is more than one person on the LLC that you have to do an EIN. Is that true? Even in my situation of real estate for the practice?
5. I also was told operating agreement matters and other people have said don't worry about it. Which is true? How detailed do you have to be?
6. Is there any yearly fees to maintain an LLC in Texas?

I know its a lot of questions, thank you for your help in advance.