I am completely at a loss here. I now own 3 properties, one in Kansas City (Duplex), one in Cape Coral (SFH), and the one I live in, LA. All done in 4 months time, phew!
I desperately need to start my LLC to fold the KS City and FL properties under.
I live in CA… and the rental properties are in 2 other states. I hear Nevada has the best business friendly laws for LLC, however, I also understand that I might also have to “register” the LLC in the state(s) I have the businesses and that this can sometimes be just as much money as forming them in that state to begin with.
I plead for your help… Where do I file the LLC, in the state I live or the state(s) where the business/es are?
I just spoke to a corporate attorney who suggested that California is not the best state to set up an LLC due to their reputation on screwy features in their corporation laws - and not being business friendly.
He suggested Nevada is actually a good state to set up the LLC.
I know this subject comes up often on this site, but I’ve looked through all the archives and haven’t found any useful information about living in one state, doing an LLC in another state, and having properties in yet 2 other different states.
nevada has great laws protecting the owners. file in NV and then file a foreign corporation/llc in the state you’re doing business in.
its extra money but look at it as a form of cheap insurance.
In answer to your question, what I understand is if you are starting out form it in your own state. Having said that, reading your post, looks like you should file either in Nevada or New Jersey. I started my corporation in flroida cuz thats wehre I live. Check with your accounatnt or real estate lawyer to find out how you can fold those real estate investments into your corporation. There is an or called PPL you might want to check out. I heard you cant give the full site name so email me if you want that name or someone else can name it. I look forward to hearing how you make out.
You are further ahead then me. I have one con pre constrauction property near orlando. I am getting started in short sales as well. Good luck!!
steve
well what you should do is owner occ a property in texas and get it started texas law is as good as nevada i have looked aver it all.
I now live in austin texas and also am building an llc.
Get in contact with a local texas realestate law firm and you will do fine.
law states that you can owner occ a property every 200 miles.
Get into a net work marketing company and you can freely say that you work in that place.
this is what i have done as i buy a property i state that i am with 2bfree.networthusa.com and it can be used as legal work in any state.
so you can prove work stat. to be owner occ.
you can sign up with mine i really dont make much cash from networkmarketing but i pay 40 bucks a month and as i sign members it pays for its self and then some what is funny aslo is that you rite off your trip to visit property on taxes as a buisness expense just as long as you sign some one while you are there.lol. but the sole purpose is to have a claim to work where ever i want as to purchase in any state .
God Bless
\Kurt/