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in-state LLC, out-of-state LLC and investment properties?

Hi,

I have some out-of-state investment properties in different states. I would like to have my LLC to receive rents. If I have a LLC in my home state, can I use this LLC to manage the rents for those out-of-state investment properties? Does this LLC need to be qualified in the states where my investment properties are located?

As to investment properties, is an in-state LLC better than out-of-state LLC? would any other company structures be a good choice for out-of-state investment properties?

Thanks.

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi,

The LLCs need to conform to the laws of the particular state where they have been set up. An in-state LLC is not allowed to carry out financial activities out-of-state. Thus, it is better to have an out-of-state LLC to manage the investment properties. However, an in-state LLC can carry out financial activities out-of-state, provided it obtains foreign qualification in the state as a foreign LLC. You need to fill out certain forms and pay some fees in order to do so. I suggest you to consult an attorney to know more about it.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 01:45 | Post subject:

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