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my collections here then are some.business advisors and in this video I'm.going to discuss using a property.manager with your limited liability.company all right you may be an investor.like me who invests outside the state in.which they live and so it really doesn't.make sense for you to try to manage the.properties remotely because that would.just become a nightmare.so what you'll end up doing oftentimes.is hiring a local property manager to.handle your real estate investments for.you now the issue all we often arises.for people who do this where do I have.that property manager send the rent.checks every month or my payment every.month after they've held out their fees.well I get the idea that it can be.confusing so you have to then look at.your structure and determine how are you.set up and where do you want that money.to roll there's two ways you could do.this let's assume that we have our.limited liability company right here.here's my LLC it owns this property here.and let's say I have a few LLC's set up.here's another property over here let's.say these were Florida Florida.properties and if you've watched some of.my other videos you know that oftentimes.I'll tell you if you're using a state.specific LLC like these are in Florida.Florida offers no charging order.protections watch those other videos on.charging order protections if you don't.know what that is it's very important.that you understand that concept then.you'll have these LLC's owned down here.by what is referred to as a holding LLC.and that's just a term that I put on it.but this LLC is typically going to be in.Wyoming and then you're gonna own that.Wyoming limited liability company so.let's assume this is your structure and.you have this out-of-state property.management company over here that's.managing all of your real estate for you.so they're managing these properties so.where are they going to send the rents.well ideally what you're going to want.to do is have them send the rents to the.respective LLC's so property number one.it's going to send the rent check to.hear property number two it'll send the.rent check to hear.this is ideally the way it should roll.but oftentimes it's not how it's gonna.happen because this property management.company over here if you have multiple.properties they want to keep it as.simple as possible and if you're telling.them they need to have different.entities they're sending their rent.checks to that means different ENS they.have to account to for these payments it.complicates their business for them so.they're gonna ask you for one entity if.you may even try to send the money view.directly hey you don't want the money.coming to you directly you want it to go.to one of your boxes so this then leaves.us with two choices okay what choice.number one is you can have the money.sent directly down here to your Wyoming.Holding LLC so this is another reason.why I'd like this holding structure here.having this LLC because it it makes the.the process of working with out-of-state.property managers a little simpler so.you have the checks collected down the.money collected down here now if you.watch my other videos I've told you how.important it is to run money through the.respective LLC's keep in mind if you.have to go this route because of your.property manager then you need to have.really good books and records here all.right you need to make sure that you're.properly accounting for each LLC's if it.received the money so this is where you.need to have a Superman CPA or.bookkeeper that's in there and and.they're doing a really great job of.keeping things clean because if anything.happened here and this one came under.attack a claim that a creditor could.make or their attorney might make is.that hey this is all one common.enterprise you never collected any rents.the rents went to the blue box never.went to the brown box therefore we're.just gonna treat it all as one as if the.blue box owned the properties themselves.now that's an argument it's not a.winning argument but it is an argument.so you're counter to that argument is.well the property manager they wouldn't.pay the box they know they wanted only.one entity that they would pay so we had.it paid down here and we just separately.accounted for the income there isn't a.legal requirement that you actually have.to run the money through through the.brown box but you do get into that.commingling issue that's a potential.argument that could raise so option.number one have it run.the blue box okay so that's how you.would work with an out of state property.manager option number two maybe you have.your own corporation that you've set up.maybe you flip property let's say you.live in Texas so you have this Texas.corporation set up because it's flipping.it's engaged in wholesale something of.that nature well another thing you could.do is manage your LLC so well if we've.got this company set up where I have a.management agreement between these.limited liability companies and all this.is is to a piece of paper you know.four-page agreement that you put.together with your LLC's then what you.could ask this out-of-state property.management company to do is instead if.it's rather than sending the money here.have it sent up to your Corp now your.corporation will collect those proceeds.alright on behalf of these boxes so.think of it like a subcontractor all.right.this is what this company is - your.corporation your corporation is really.the manager but it's sub contracts out.the management in that in Florida.because it's not registered to do.business there so it's subcontracting.that that money out and so then it.collects the money back here though all.the money comes in here then what it.could do is separately account have.really good.Superman books up here and then.distribute the money directly to the.blue box or if you have bank accounts.set up here then I would run the money.directly through these brown boxes.before it goes down to the blue box like.that so when you're using a property.management company to manage your real.estate and you have boxes there are some.complications they're gonna come up I.mean it's just part of doing the.business I mean I've seen a lot of.people just say oh I don't want to deal.with this I'm gonna put all my.properties into one LLC because it's.gonna make it easier for the property.management company don't let the.property management company dictate to.you how you're gonna run your structure.because at the end of the day if one.lawsuit develops at an LLC that holds.ten properties I doubt your property.manager is going to come to you and say.let me help defend you in this lawsuit.because we refuse to pay multiple LLC's.and we forced you into this position you.see how absurd this becomes you sound.planning you can work around companies.that will not allow you to do what we.you know have the money go to the.respective.companies my name is Clint Kunz with.Anderson business advisors in this video.we discuss how to use an outside.property management company with your.limited liability companies.[Music].

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Krs Property Management Texas Form FAQs

Locate answers to questions about Krs Property Management Texas Form . Get the most frequently topics and more.

Need help? Contact support

Why does my property management ask me to fill out a W-9 form?

To collect data on you in case they want to sue you and enforce a judgment. If the management co is required to pay inerest on security deposits then they need to account to ou for that interest income. If you are in a coop or condo they may apportion tax benefits or capital costs to you for tax purposes.

How do I fill out appraisal form of management by objectives?

It depends on what kind of system you follow. If you have a manual system then normally they provide you sheet which you need to fill and submit back with the management. And if it is a application then you fill the form online which is in turn submitted for review. This ensures a timely and effective way of doing performance appraisal. Hope I have answered your question.

How can I fill out Google's intern host matching form to optimize my chances of receiving a match?

I was selected for a summer internship 2016. I tried to be very open while filling the preference form: I choose many products as my favorite products and I said I'm open about the team I want to join. I even was very open in the location and start date to get host matching interviews (I negotiated the start date in the interview until both me and my host were happy.) You could ask your recruiter to review your form (there are very cool and could help you a lot since they have a bigger experience). Do a search on the potential team. Before the interviews, try to find smart question that you are Continue Reading

Do military members have to pay any fee for leave or fiancee forms?

First off there are no fees for leaves or requests for leave in any branch of the United States military. Second there is no such thing as a fiancée form in the U.S. military. There is however a form for applying for a fiancée visa (K-1 Visa)that is available from the Immigration and Customs Service (Fiancé(e) Visas ) which would be processed by the U.S. State Department at a U.S. Consulate or Embassy overseas. However these fiancée visas are for foreigners wishing to enter the United States for the purpose of marriage and are valid for 90 days. They have nothing to do with the military and are Continue Reading

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