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Updated over 8 years ago on . Most recent reply

Justin Tortorich's profile image
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Justin Tortorich
  • Real Estate Agent and Investor
  • from New Orleans, Louisiana
  • Member since Oct 9, 2016
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Justin Tortorich's profile image
Justin Tortorich's profile image
Justin Tortorich
  • Real Estate Agent and Investor
  • from New Orleans, Louisiana
  • Member since Oct 9, 2016
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Justin Tortorich
  • Real Estate Agent and Investor
  • New Orleans, LA
5
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Goals, Business Plans & Entities

In state and Out of state with LLC

Justin Tortorich
  • Real Estate Agent and Investor
  • New Orleans, LA
Posted
What are the concerns with investing in Out of state property with an In state LLC? For example... my brothers and I are starting an LLC in Louisiana. One of them lives in North Carolina. If we were to find a good deal in North Carolina, would it be disadvantageous to us to purchase that property under the Louisiana LLC?
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David Dachtera
  • Rental Property Investor
  • from Rockford, IL
  • Member since Aug 18, 2014
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David Dachtera
  • Rental Property Investor
  • from Rockford, IL
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  • Rockford, IL
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David Dachtera
  • Rental Property Investor
  • Rockford, IL
Replied

@Justin Tortorich,

The laws governing a property / transaction will be those of the state where the property is located, not the entity. That's one issue.

Check with your business attorney to see if a "foreign" entity needs to be registered to do business in NC.

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