Ok, I have a question. I'm setting my business using two LLC. Right now I have one LLC that will be used as the property management company and I'm looking to set up other LLC in another state to own and hold the propetry.

The question is do I set it up as a foreign LLC or just file to get a new Domestic LLC formed.

What do you feel the advantage(s) of the second LLC being out of state is?

Antwon,
Plenty of reasons to keep your private information private. Online resources make the acquisition of information easy and there are people who use it for nefarious purposes. We have a character in Chicago that likes to use public online resources to smear his business competition (he doesn't disclose that of course) under the guise of some sort of self-righteous public service. Regrettably people like this do exist and if information was spread across states (or in Nevada), it would be harder for McCarthy's or suit-mongers like this to do what they do.

Tim

Antwon -

I like your idea of two LLCs. I know many investors use the 2 LLC scheme that you speak of and also a 3 LLC scheme. If you are concerned about privacy, which BTW, I don't blame you, you may want to look into getting a Nevada LLC.

But you are right to be worried about your dealings. You'd be amazed at the amount of people that go looking around and snooping into your business affairs.