LLC Preferred Chart
UNDER REPAIR
Explanation of LLC Real Estate/Development. The LLC is used to title all Real Estate purchased. The LLC does nothing until the property is sold. The Manager of the LLC, a corporation is the Developer/Property Management Company. This company is the operating business; with a bank account, employees with all normal operating costs incurred in normal business operations. The company is also responsible for costs incurred while developing the property. Additionally, the company collects rent and generally pays the bills. The Members are the investors, this should be easily understood. Procedurally, the Project Manager (this might be you) of the development company goes out and finds a property to develop. Upon locating the property, the Manager would make an offer, when said offer is accepted the investors deposit funds into escrow per the operating agreement, which is created between the investors and the property management company. When a property is sold the company deducts all costs it incurred during the course of the transaction. The balance is then paid to the investors or exchanged (1031) into another property. Basically the company gets paid for its work including all expenses, costs, salaries and bonuses with the remainder going toward another property - tax free. In this scenario the investors only get paid as employees, they protect their identity by using a trust to represent their membership. All of these services are included in one package provided by
ILS. These services include 1. An LLC with an operating agreement 2. A corporation complete business package with Director 3. One Trust agreement.
The cost has changed due to WY cost have reduced structured package c was
$2,600.00 with all services completed in four working days. See our order form
LLC/Corporate package/Trust.