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so how do you name your limited liability company your llc i'm going to give you a tool to help you name your llc quickly and easily for free then i'm going to give you some rules to follow and some things to avoid that's what we're going to talk about in this video we've helped our clients name thousands of llcs and some people can come up with a name right off the top of their heads others want to head scratch i don't know i want to talk to such-and-such first so i'm going to show you a surefire method to choose a name quickly and easily and you can also quickly and easily hit the like button below so that youtube promotes this video and i'd really appreciate it you can also click the subscribe button and notification bell so that when more videos come out like this you'll be up to date right away now there are two categories of company names that come to mind one is where the name really doesn't matter such as using a company to own rental property we talk to most of our real estate investor clients about putting each property into a separate llc so that a lawsuit on one property doesn't create the domino effect in this case we simply have the name of the llc as the address of the property the one two three main street llc for example i just thought of an example of one guy who was setting up multiple llc's for rental properties and they head scratched and worried and pondered this went on for a couple of months finally the guy rear-ended somebody in their car i mean he just smashed into the back of the guy on the highway that car hit another car which had another car and we should hit another car and i think there were seven cars all together and this guy was sued for way more than his insurance would cover so the guy went months without putting his properties into llc's because of the names the guy was at fault in the car wreck and he was a wealthy real estate investor so though there are many other people in the car accident he was the one with a hundred and ten thousand dollar bmw 750 with all the options so guess who they sued the rich guy right then all of a sudden he was panicked about getting the llc's formed now there were some other strategies we could employ to protect the properties but they would have to defend these strategies in court rather than having the protection automatically because they should have been in separate llcs i mean the guy could have protected everything but he dilly-dallied too long on picking the company name now for most businesses and real estate holdings for privacy and protection we don't recommend people use their own names in the name of the llc now maybe if it's a construction business or business where using your name makes sense then okay anderson construction might be perfectly fine if you're bob anderson but for holding real estate or trying to keep your name private don't use your name on the company so don't name your company bob anderson llc if you're using it to own real estate you want more privacy than that so don't paint a target on your back so when you use an llc for protective purposes to hold your stock market portfolio or to hold business equipment real estate as we said don't use your name see our video called anonymous llc and i think you really liked some of the ideas that we have on owning your llc privately now another mistake that people make is using a one word name so common names and if we go to look up the name it's not available this is especially true in larger states such as california florida texas new york as well as popular states for llc such as nevada delaware wyoming and so on so common words such as cornerstone cornerstone llc or in texas just about anything with the word lone star is taken lone star enterprises you can forget it in texas in california golden state with just about any other word or common word like enterprises or ventures is gone or initials are often taken abc enterprises jnj holdings for example so what we recommend for name availability purposes is having more than one word unless it's a totally made up word such as powerwave or vinstar or capmax so here we go here's a surefire way to come up with a name for your company see down below in the description where if i remember i'll write in all these words so you can use them to pick a name for your llc and since we're in the business of setting up llc's our company was established in 1906. we have attorneys on our staff if you want your llc set up right so you're more likely for it to protect you from lawsuits when you need it feel free to call us to have us set up your llc the right way with your articles a proper operating agreement membership certificates so everything that you need go ahead and see our number and website below so with this list you'll pick a first word such as metro then you choose a word from the second column such as endeavors then you pick your identifier that notifies the world that it's an llc and not another type of business entity so you end up with metro endeavors llc or capstone enterprises limited liability company northern ventures llc etc so you can feel free to use this list and it will give you at least 626 different name choices or you can choose your own first word then add one of our second words and the name choices are practically infinite now keep in mind if you have a name such as green tree executive llc in california you can also set up another green tree executive llc in north carolina for example so name availability is state by state so you can have a company with the exact same name but it's in a different state and the name may be available so using our name selector tool should help you pick a name and pick one rapidly now here are some other very important things to consider now many people are not too creative and they come up with a phrase or a word they like such as blue sky so it's like blue sky enterprises llc then they call us down the line and they want blue sky enterprises llc 2 then blue sky enterprises llc 3 so they have multiple llc's with blue sky enterprises in the name but really think about it if you want anonymity why flag the world that all of these companies are linked to each other otherwise you're giving a pretty good clue that all these llc's are owned by the same guy right hey that's not a whole lot of thought that goes into that to figure that out right anybody would draw that same conclusion wouldn't you so for anonymity you want to refrain from using a naming pattern where people can easily recognize that the llc's are all tied to each other like my friend who insisted on his last name in every company the building inspector found some problems in one building then all of a sudden the same inspector is slapping all kinds of violation orders on all the other properties but it's more than that when you're talking with your bookkeeper or cpa they say blue sky well which blue sky blue sky 1 blue sky 4 which one so when talking to people having the names too similar will confuse people as to which one you're referring to and not only will it confuse them but it'll confuse you too and i'm talking from experience i'
Thanks for your comment Joan Haugen, have a nice day.
- Annett Reinhart, Staff Member
all right guys hey in this video we're going to talk about how to name your limited liability company all right let's get started okay so if you're setting up a limited liability company coming up with the name is something that seems to trip a lot of people up i can't tell you how many times i've been on the phone with someone and i say hey now i need a name or two for your limited liability company and it's just silence i don't know what to call it i gotta talk to my spouse about this i have to get back to you hey names are not that important but there's some things you should consider when naming it but for sure don't get hung up on it because things can happen i mean i had this one client years ago was setting up 17 limited liability companies for this person in oregon there were two physicians and they couldn't agree on the names and so they went months without setting up the llc's because of names and then this one of the the wife is involved in a car accident she wasn't at fault she actually got hit from behind and her car was plowed into the other three cars in front of her that had already collided but she had the nicest car she had the s-class mercedes so everyone sued her and at that point in time they were scrambling trying to get their properties transferred and i told them hey it's too late everything could have been protected but you couldn't decide on some names so when it comes to setting up your llc if you're going to hold if it's not a business like okay per se that associated with you do not use your name that is the number one mistake that i see people make they put their own name down on their llc clint coon's limited liability company now why the hell would i want to do do that right i mean unless i want to brand myself and this company and myself being associated with it if it's going to hold assets your name should not be in there at all i mean part of my strategy is about using anonymity well you just went and blew it for yourself by adding your name to the llc now the other thing to consider too is that if you come up with a name for example if you decided hey i want to uh we're going to call this evergreen investing all right people get attached to names they find one name and then they want to go out there and continue to use that same name so you're going to create multiple llc's evergreen investing what is called e i llc here's one then they come on the evergreen investing one llc evergreen investing ii llc and so forth down the line and they're creating multiple llc's all with the same name now first off okay think of it this way if you're trying to build anonymity right even though your name's not associated with these entities what is associated with all of these entities that one wyoming holding company that we have down here right here this wyoming llc so you've just basically told someone hey all of these entities are really owned by the same guy there's not a lot of research that has to go into this because i'm going to make that assumption whoever's created in this way that's still the same investor so you want to minimize that to the do not use this type of naming convention not only is i think giving away too much information to tell someone hey e1 or ei12345 they're all associated together it's confusing right who's it confusing to well number one it's confusing to your bookkeeper it's confusing to your attorney i've had discussions with people before and i think i'm talking about evergreen one we have to be talking about evergreen four because he didn't say evergreen four he just said you know evergreen the fourth one might what what i get all confused about which entity we're supposed to be dealing with so it makes it hard to communicate with other people not only is it other people you'll get it screwed up and i'm telling you this from first hand experience i've been there i did this at one point in time and i will never do it again because of that because of the confusion associated with that so when naming your llc try to stay away from this type of stuff so that brings us then to setting up for the real estate then what do we actually call it if we're not going to be using this type of structure like this well what i will tell you is you can pick any name you want but first you have to figure out what you're going to be using if you're going to be using a land truss associated with it then watch my video on naming your land trust because that's key here you want to make sure those sync up what i'll typically tell people is name the llc after the property address okay so if you already have the property that makes it extremely easy to do so you would set up your llc if the property was located on 732 broadway all right then i would set this llc up with 732 broadway llc that's what i would use i know which property is held there um another thing that sometimes i'll put into my llc's as well is the state for example if it was i own property in multiple different states and so when i'm setting them up so when i'm just looking down the line of my entities i'll put a designation on here for example 732 broadway or 732 broadway say nc llc why do i put nc because that tells me that is my north carolina llcs and so every time i see nc i have the address and that nc designation tell me which state it's in so if you invest in multiple states and you're setting up multiple limited liability companies this is an easy way for you to remember which property is located in which state right because as you buy more you tend to forget i i do i can't keep track of them all so i use uh the nc designation on there or whatever state that you're investing in as a rule of thumb now the problem that comes up is for individuals who uh are setting up llcs in advance so so this is a common thing that you should do when you're investing in real estate if you know that you're going to be buying property and you you know the state that you want to be investing in maybe set up one or two llc's and have them on the shelf and so you don't own the property yet but you're going to be investing in in a certain state and so you can't use the property address because you haven't acquired it yet and the other thing is is you wouldn't want to set up an llc right in advance of making an offer on a particular property for example let's say i was going to make an offer on 732 broadway so i hop online let's you know some states such as wyoming you can create the entity just like that right so i could have 732 broadway in five minutes ready to go so then i make the offer for 732 broadway i've seen this come up before that it throws off realtors um and sellers of property because they start wondering why do you have an llc set up with the exact same name of my property and they think something fishy is going on so so that you got to kind of be leery of coming up with the name before you actually have this property under contract so don't make the offer in the name of that llc because i've seen it make cause problems for people so it brings me to this point when you're going to if you don't own the property yet think about it in term
Thanks Tyrell your participation is very much appreciated
- Annett Reinhart
About the author
I've studied analytical sociology at San Diego Christian College in Santee and I am an expert in international trade. I usually feel alone. My previous job was radiologic technologist I held this position for 19 years, I love talking about airsoft and handball. Huge fan of Jill Morrison I practice bocce ball and collect seashells.
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