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Updated 7 days ago on . Most recent reply

New to REI - Looking to start out of state
Hi,
I've been looking to get my journey started in Real Estate Investing and finally pulled the trigger after watching a few YouTube videos from Bigger Pockets. If I were looking at buying my first rental property out of state should I have an LLC in the state my rental property is or my home state?
Most Popular Reply

- Real Estate Agent
- Columbus & Cleveland, OH
- 1,589
- Votes |
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Hey Michael, for your first deal you don't NEED a LLC to purchase. You'll actually get better loan terms if you purchase in your personal name and go conventional.
However, if you do plan on using a LLC, you should consult with an attorney on how you should set it up. I know most of my clients in Ohio who are investing from out of the state are forming their LLC's in Ohio.
- Samuel Diouf
- [email protected]
- (614) 662-1652
