To say all LLCs are set up the same way I hesitate to say only because the series LLC is a bit different, however, for the most part, yup - they’re the same.

An LLC is usually favorable for small to medium business owners starting up and who don’t need to bring in a bunch of shareholders. eVentureBiz is an LLC. The flexibility and simplicity in paper work is definitely the big advantage.

If you like, I can have Theresa email you and gather some info from you to help you set up an LLC. She’s quite good and I think you’ll appreciate the price over many other incorporation companies.

Thanks for the comment and stopping by.

In theory it sounds good, but in reality this is a bad deal.

First, a court would probably look at the situation of you paying $10/month for a $200k piece of land as a “junk note,” like you said. It needs to be fair and reasonable.

Second and most important, even if the structure you set up were to be recognized by the court system, a person suing you could still take your land. Let me give you an example.

Let’s say you’re out on a Sunday drive and you miss a stop sign and hit me. I decide to sue you and take you for everything I can. My lawyer sees that you own an LLC (it’s an asset you own). My lawyer then attaches your LLC to the judgment and if I win, I take control of your LLC.

Now if you’re not the only owner of the LLC (let’s say you and 2 other people own the parcel of land), then I would take control of your % in the LLC in profit earning but would retain no “management” control over it.

Thus, as you can see, the structure you set up for yourself wouldn’t work.

The LLC protects you personally if someone where to get hurt on your land or something of that nature. Then you are protected. If, however, you do something outside of your LLC and away from your land, your assets could be attached to the judgment . . . and guess what, one of your assets is an LLC.

What you need to do to provide full protection and make your LLC and land untouchable is make use of multiple business structures. This would involve knowing your situation a little better to make sure you’re set up with the correct structure.

If you want, use my “Contact Us” link above and choose “Contact John.” Send me a message that you’d like to know what to do and I’ll send you the email address and phone number to my cousin who sets these structures up. If anyone can protect your assets, he can, trust me. Or if you like, send over your phone number in the contact form and I’ll have him call you.

Good luck my friend and great question!