November 15, 2022 Business Article: THREE TO FIVE MEMBER O FIVE MEMBERS FOR EACH SUB-SERIES LLC MUST HAVE CASH, CONNECTIONS, TIME, OR SPECIFIC EXPERTISE The Master LLC or Parent LLC’s mission when searching for profitable real estate investments is similar to playing a numbers game. It has been suggested to look for 50 properties in the MLS and other sources to eventually buy one and streamline the process by using the phone to pre-qualify sellers. For example, by pre-qualifying approximately 20 sellers from the Multiple Listing Service (MLS) and other sources, the Master LLC will typically find approximately five properties worth looking at. Looking at five properties versus 50 properties will save the Master LLC a lot of time. On the average, three of those five inspected properties will likely be worth making offers on. Finally, it has a great probability the Master LLC can close on at least one of those three properties. Pre-qualifying is a weekly activity—it is the key to keeping the pipeline full of good prospects. It will be a good practice to be contacting and pre-qualify a new group of property sellers. The goal is to enable the sub-series LLC to make the best decisions because each property will be owned by a particular sub-series in a Texas Series LLC. Each sub-series will have three to five members to own a single property and must conduct healthy debate, open-mindedness, commitment, similar values, and accountability. One of the members in every Sub-Series LLC must be one of the members of the Master LLC or Parent LLC.
v
Powered by FlippingBook