Starting an LLC for properties, not sure what state to register

[Account Closed]

I plan on purchasing a rental property soon. I'd like to register it under an LLC, problem is I'm looking at properties in multiple states so I'm unsure of what state I will need to register in. The question that I have is does the LLC need to be in the same state as the physical property or can I have an out of state LLC? Is anyone familiar with this situation that can steer me in the right direction?

[Sean Morrison]

Wyoming has two things going for it - it's relatively anonymous and has friendly asset protection laws. However, it's a bit over-hyped. Anonymity is not all it's cracked up to be. It will keep people from peeking to see who owns the property, but doesn't offer much by way of liability protection since the court can simply order the owners be disclosed. And asset protection will be limited since the property's local state will have more say over that. But let's say you're sued in State A where your property is, and also have assets in State B. Having the WY LLC may help protect the State B assets.

And insurance is still your best defense.

But again, this is way too advanced for buying your first property. Asset protection is for people with assets. Go get some assets!