2 Part Question:
I reside in SC, but have 1 rental in VA and 1 rental in GA. I'm looking at putting both of them in LLCs.
I was planning on a Ga LLC for the house in GA and a VA LLC for the house in VA.
VA attorney will serve as my registered agent for the VA LLC. I still need a principal business address. Attorney suggested a UPS mail box, but he said I'll still need someone to go and actually check for mail. This seems antiquated. I could ask my parents to occasionally check the mailbox, but would prefer to not involve them.
Haven't started the process on the GA rental yet, but I definitely don't have anyone there who can periodically cruise by a UPS box for me.
Q: How have other out-of-state property owners handled LLC business addresses?
VA attorney alternatively suggested I transfer both the VA house and GA house to a SC LLC so that I could serve as my own registered agent and use my home address, thus saving money on agent and mailbox fees.
However, looks like I would still need an agent in VA once I register the SC LLC as a foreign entity. I would also still need a principal business address in VA. Haven't checked with GA yet. Seems like I wouldn't really be saving money, and also seems cumbersome having a SC LLC for rentals in other states.
Q) Has anyone else formed an LLC in their home state (or another state) for out-of-state rentals, and if so, why go that route instead of forming an LLC in the state where the rental property is located?
For the address in the local jurisdiction, you can use a virtual mailbox - that's what I use.
You typically want the LLC in the state where the rental is located.
Hey Lauren, I’m interested to see what you decided to do. I am in the same situation and debating home v. foreign state. My property will be titled in my own name.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you