Forming LLC for property
Looking at putting a property under an LLC. The lawyer wants 900 bucks to do it where as legal zoom wants less than half. Is there a benefit to going with the lawyer? Pros and cons?

Edit well thanks to everyone here I am doing it myself
[{"id": "fles8ld", "text": "Do it yourself. Easy.", "replies": [], "depth": 1}, {"id": "flescto", "text": "I formed my Corporation on my own in CA. It takes just a few simple sheets of paperwork from the Secretary of State, and costs maybe $25-50. I am the only owner so I didn\u2019t need any complex bylaws or anything.", "replies": [{"id": "flfuwv9", "text": "You can do it online in literally minutes now on the SOS website. Don\u2019t need to print a single sheet of paper. Super easy.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fleynyh", "text": "To form the LLC? You mean he\u2019s just going to go to the secretary of states website and search for your business name to make sure it isnt available?\nAnd then once he see that it is available and no one else has it then he\u2019s gonna print out the 2 pieces of paper located on the website to file articles of incorporation for you business that ask for your you business name and business address and the names of the people you want on the business as officers? (Aka yourself and/or a partner)\n\nThen hes going to have you sign and date those two pieces of paper and mail off those papers with an $80 check to complete the filing process with the state that takes about 4-6 weeks sometimes sooner. \n\nThen once he gets that back he is going to log onto IRS.gov and create an EIN for you business to be registered with the feds for free and get that instantly once he is done filling out the 2-3 pages with the same information the state asked for? The same site that gives you the step by step walk through on how to do it which literally takes 5-10 mins to fill out. \n\nThen hes going to say congratulations you have a business here is your articles of incorporation and your EIN good luck with your business and you gonna pay him $900?\n\nMaaaaaaaaaannnnn im in the wrong business look Ill do it for you for half the price hell Ill do it for half of what legal zoom was charging you. Lol", "replies": [{"id": "flf0da9", "text": "Well shit when you put it this way", "replies": [{"id": "flf7ioe", "text": "Sooooo.......what we talkin $200/$300 for me to do it for ya? \ud83d\ude02\ud83d\ude02\ud83d\ude02", "replies": [{"id": "flfdhuw", "text": "Haha you have shown me the way.", "replies": [], "depth": 4}, {"id": "flgkk85", "text": "Lol you definitely deserve a $50 Venmo for the cost savings", "replies": [], "depth": 4}], "depth": 3}, {"id": "flgrxkl", "text": "Check out incfile.com too.  Theyll do this for you cheap.", "replies": [{"id": "flgs44u", "text": "Thank you good sir.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "flf6xmn", "text": "Lol.. I remember our Econ teacher in high school back in early 2000\u2019s walked us through this process and encouraged us to all to do this if we ever had an idea for a business\u2026 I was shocked to see how easy it was also.", "replies": [{"id": "flf75mx", "text": "I wish I wouldve went to your high school they teach that in mine. Got me feeling like boomer over here lol", "replies": [], "depth": 3}], "depth": 2}, {"id": "flfzv11", "text": "Lol. After reading this, I\u2019m going to file tomorrow.", "replies": [], "depth": 2}], "depth": 1}, {"id": "flez5wu", "text": "https://www.amerilawyer.com/", "replies": [{"id": "flf0dto", "text": "Thank you", "replies": [{"id": "flf2d1x", "text": "You got it.  Make sure when you're choosing a state, there is the startup cost and then the YEARLY tax.  Cali is cheap , but it's a $600 or $800/year fee.", "replies": [{"id": "flfdfh2", "text": "My business is in Texas.", "replies": [{"id": "flfdqxn", "text": "That doesn't mean you have to incorporate in tx. You can incorporate anywhre and then file as a foreign corp doing business in TX.", "replies": [{"id": "flfdtzl", "text": "So if I live in California and my business is in Texas I could file in Wyoming? Wouldn\u2019t I still have to pay the fees in CA and TX?", "replies": [{"id": "flfeetm", "text": "Different states have different advantages.  DE is the default state because of its  corporate law is well known, Google and most startups use DE.  I think wyoming doesn't list the owers publicly.  Some other state doesn't have any registration or transfer tax on vehicles so comapnies that buy and sell exotics use that state.   \n\n&gt;So if I live in California and my business is in Texas I could file in Wyoming?  \n\nYou could.  I'm not sure if CA's $600 or $800 per year is the same for foreign and domestic companies.\n \n\n&gt;Wouldn\u2019t I still have to pay the fees in CA and TX?\n\nYes and/or no.  Consult a tax attorney.  \n\nIn your example: \nSo if I live in California and my business is in Texas I could file in Wyoming\nYou would file in Wyoming, do biz in tx, and pay the fees to keep the corp active active in Wyoming.  \n\nMost people do DE if they might get funding and need to flip from and LLC to an s-corp or c-corp.  It really depends on what you're trying to do.", "replies": [{"id": "flffmxz", "text": "I am just buying real estate and want to protect myself.", "replies": [{"id": "flffoyr", "text": "sure.  Just do your state and be aware of the fees.", "replies": [], "depth": 9}], "depth": 8}], "depth": 7}, {"id": "flfela7", "text": "This page has some asnwers... https://www.amerilawyer.com/form_a_limited_liability_company/limited_liability_company.htm", "replies": [{"id": "flffnob", "text": "Thank you", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flezazx", "text": "do it yourself", "replies": [{"id": "flf0eb6", "text": "Thanks", "replies": [], "depth": 2}], "depth": 1}, {"id": "flfb7hd", "text": "FWIW there are advertising requirements in some states to make it legal. Don't forget about that one.\n\nMy CPA set up my corporations for free (minus the filing fees) because he already does my personal and business taxes. If you've already spoken with your accountant to make sure an LLC is the best vehicle your situation, the firm may do it for your as a favor. Worth asking.", "replies": [{"id": "flfdqwo", "text": "It is worth asking. Thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "flffjv7", "text": "It's worth asking... Why?  If it's for liability protection, an LLC for real estate doesn't really protect your personal assets in most cases since anyone can still sue you directly.  But there may be other reasons why it could make sense, such as if you're forming a partnership.", "replies": [{"id": "flfgjyi", "text": "That seems to depend on what state you\u2019re in. If you\u2019re in CA it seems like you don\u2019t get a ton of protection from an LLC structure. \n\nI have a building in Florida that\u2019s owned by a Florida LLC. That Florida LLC is owned by a Wyoming LLC. That Wyoming LLC is owned by me. \n\nI have a separate building in Connecticut that\u2019s owned by the Wyoming LLC as well. \n\nI also have personal liability insurance as well as insurance on both buildings.\n\nI\u2019d like to think I\u2019m pretty well protected - as long as I don\u2019t live in CA and limit my time in NY that is. Both of those states can rip open your LLC structures and get to you personally.", "replies": [{"id": "flfjlra", "text": "California cannot pierce a multi member LLC.   Doesn't matter how much the other person owns. What matters is that you have more than an individual in the LLC.\n\nThat's the guidance I've received from two lawyers, my former and current CPA, many other real estate investors.", "replies": [{"id": "flfjzy1", "text": "Awesome. Thanks for the advice!", "replies": [], "depth": 4}, {"id": "flfldjs", "text": "What is there to prevent someone from claiming that one of the individuals is personally responsible for their harm I'm just suing that person directly?\n\nUsually when someone is trying to pierce the corporate shield it has to do with simply recovering a debt that is owed by the business. But with real estate someone isn't usually suing because of the debt, they're suing because of a liability claim.  And if someone is managing the property themselves especially it's easy to claim that that individual is responsible for the unsafe conditions or whatever caused their harm.", "replies": [{"id": "flfya0q", "text": "If the debt is held or personally guaranteed by an LLC member then that is different.  Personal guarantees or doing stuff outside of the LLC are great ways to expose your personal assets.", "replies": [{"id": "flgu74h", "text": "Yeah but debt usually isn't the problem when you're talking about real estate in an LLC. The property that's inside the LLC is pretty much always going to be worth more than the debt anyway so there's no need to go after assets outside the LLC for a debt. They can just put a lien on the property. \n\n\nBut the reason people put properties in an LLC is because they think it protects them from liability from a big lawsuit such as an injury with a payout bigger than the value of the property. And my point is an LLC won't protect you from that anyway if they name you as personally responsible for the liability situation.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flg91aa", "text": "If it includes drawing up the Articles of Organization and Operating Agreement, the $900 is not that unreasonable.", "replies": [{"id": "flgomwr", "text": "Oh really?  Are those things that I cant do myself?", "replies": [{"id": "flgpp0i", "text": "Of course you could. Like anything else you get what you pay for. The papers could be good enough if you use a template off the net, and for many cases would be.  Just make sure you pick one set that conforms to the state\u2019s rules where it is formed. \n\nIf you throw in something unusual, such as a Special Member clause for your spouse, then you might befuddle the language and make it tougher to execute that clause. \n\nAnd as I wrote this, I realized my attorney left out that clause in the last OA I did.  So, there\u2019s that, too.", "replies": [{"id": "flgqmsu", "text": "Oh I see.  Thank you for this", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flgiogk", "text": "Presuming you are the sole member of theLLC, just bear in mind that if you want to bring in additional investors (even if they are family), you should have a lawyer review the operating agreement prior to conducting any transfers of membership interests.  The operating agreements set up by legal zoom can be quick/cheap/effective for a single person, but there are many pitfalls that can come up that a seasoned professional could avoid as different members come in.", "replies": [{"id": "flgoozq", "text": "Assume a solo member llc.", "replies": [], "depth": 2}], "depth": 1}, {"id": "flh12c3", "text": "Hi - I read you are doing it yourself, but If you decide on using an online service please consider us [https://startglobal.co/](https://startglobal.co/) \n\nOur cost is $599 - we think the price is justified because we provide a complete package and ease of mind :) and support in ongoing years. \n\nI've also detailed our process here [https://startglobal.co/process.html](https://startglobal.co/process.html) We provide a single package for incorporation, EIN, bank account and an address with mail forwarding.\n\nUnlike other services, we provide ongoing service next year to help you with your franchise tax, tax preparation, filings, etc. You will not need to find an attorney or CPA outside the platform.\n\nIf you need more info please email us at [team@startglobal.co](mailto:team@startglobal.co) would love to help you out.", "replies": [{"id": "flh1br9", "text": "Thank you for this.", "replies": [], "depth": 2}], "depth": 1}]