Real estate investing in other states

4 Replies

I'm from NY but I would love to wholesale in NJ, do I register my LLC in NJ or is it ok to register in NEW YORK ?

Can a LLC in one state be used to do business in other ? For example, virtual wholesaling ?

@Miltiana Holdip ,

Yes you can have business in NY but wholesale anywhere. Your contract will say where the property is located and the title company/attorney will do the rest. If you have any other questions message me dont mind helping. (not an attorney, always consult with them)

Originally posted by @Miltiana Holdip :

I'm from NY but I would love to wholesale in NJ, do I register my LLC in NJ or is it ok to register in NEW YORK ?

 Hey Miltiana,

Great question! You can register your LLC in either state, but the LLC will need to follow the requirements of that state for both formation and upkeep. The issue you would run into if forming the LLC in New York and having properties from NJ in it would be the additional costs of the foreign filing fees. You could always introduce Land Trusts, which would hold the properties and assign the LLC as beneficiary, to avoid these costs.

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