New to REI - Looking to start out of state

[Michael Arceo]

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?

[Samuel Diouf]

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.