A Series LLC is an extremely flexible and affordable business structure. I’m a little concerned that we’ve gotten into such advanced planning pros and cons today, that it might have felt overwhelming.
So, let’s end out the week with some of the ways my clients have successfully used the Series LLC.
- Anonymous Business Owner. Internet marketing can be a tough business. The trick is to find a niche or unique product, service, offer or method of driving traffic. Find the sweet spot and then push volume. The more competition, the less profit. All of your competitors are watching you to see what you’re doing. You want to be anonymous. Plus you’re dealing with competitors who are often top at finding things out on the Internet. That means you might get your cover blown and need to get a new business structure set up immediately. You can set up a new series within the Series LLC, complete with EIN and bank account, in less than 2 hours….all from your home computer.
- Real Estate wheeler-dealer. I’ve got some clients making a lot of money in real estate. They’re doing quick purchases for cash – $600K+ houses (2007 price) going for $40,000 with tenants ready to move in. But they don’t want the properties in their own name and they need to close in a day. So they set up series within the Series LLC fast.
- ADD Entrepreneur. This is the quick start entrepreneur who has a dozen deals cooking. But, he’s smart about it. He tries out the biz opp first with a small investment to see if it’s going to work. Then, if it does meet or exceed expectations, he rolls it out. He wants to protect his other wealth from this uncertain venture, so he uses series within the Series LLC for the ventures. Some have a long shelf, some not so long. But he’s saved a fortune on formation costs by using the Series LLC.
In the right circumstances, and with the right paperwork, a Series LLC can save you a fortune!