The BEST Self Storage Structure (Remove Liability!)

[@mblvckiii6267]

LOVE YOUR CHANNEL, HAVE RECEIVED INVALUABLE INFORMATION OVER THE YEARS! How does this apply to CA? If one LLC is the active entity, why not have a Wyoming holding company own it? Since it’s "doing business" by CA standards, you’d still pay the FTB and register, but the holding company preserves anonymity. For the second LLC with assets, couldn’t you avoid foreign filing (and preserve anonymity) by switching from leasing to a licensing agreement, issuing certificates of beneficial interest, or using a revenue-sharing agreement (classifying income as passive)? California Corporations Code § 17708.03 and Revenue and Taxation Code § 23101 suggest holding a passive investment isn’t "doing business." Wouldn’t this work for the asset-holding LLC?

[@NGF-Life]

Great video, thanks Clint.

[@B.Goodwyn]

Could you make a video explaining the process of setting up separate legal entities inside a company so that various departments have their own liability?

[@ClintCoons]

I like the idea.

[@All_Amin]

What is your opinion on Nevis LLCs ?

[@ClintCoons]

I prefer Dubai

[@waynecmontgomery]

Hey Clint, Great Video are you planning to do a video on Joe Carollo the Miami Commissioner losing his home to auction.

[@ClintCoons]

I might now. Did not know of this.

[@waynecmontgomery]

@@ClintCoons He should have had a Land Trust. The Homestead Act did NOT work in his case. He is an actual test dummy. My law professor used to say "The road to hell is paved with good intentions". He owes $63 million due to his position as city commissioner Federal Judgement

[@kwannp6141]

Thank you Clint. I just started purchasing these types of commercial properties and can make the necessary adjustments!

[@ClintCoons]

Glad it was helpful!

[@realtyrene]

So who owns the operating business entity? Would it be personal owner, or separate Wyoming LLC?

[@ClintCoons]

Either personal or a separate WY LLC. Some operators do not want to complicate the overall structure so they opt to keep the operating arm without anonymity. If it was me I would have it owned by a DE LLC because the property LLC is held by a WY LLC. I like to keep people guessing.

[@glizzforman8094]

​@@ClintCoonscan it be done from other countries and how does a property llc work? Does the property wy llc get structured in a DE LLC?