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Updated 7 days ago on . Most recent reply

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Michael Arceo
#4 Starting Out Contributor
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New to REI - Looking to start out of state

Michael Arceo
#4 Starting Out Contributor
Posted

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?

  • Michael Arceo
  • Most Popular Reply

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    Samuel Diouf
    #3 Out of State Investing Contributor
    • Real Estate Agent
    • Columbus & Cleveland, OH
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    Samuel Diouf
    #3 Out of State Investing Contributor
    • Real Estate Agent
    • Columbus & Cleveland, OH
    Replied

    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.

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    Reafco - Samuel Diouf
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