Hey everyone, i am new to the world of real estate investing and i am doing my research daily on how to better immerse myself in the game and become an investing business. I am a Canadian and i would like to invest in properties in USA mainly for wholesale, flipping and rentals. I would like to incorporate before getting into dealing so i can officially do business as the company (marketing, selling, dealing) so the question i have is what state is good to incorporate (i am thinking of an LLC) from the viewpoints of taxation, privacy/anonymity, asset protection, annual fees? (My mentor told me Utah but after a bit of research i find Nevada or Wyoming LLC's better)
I would appreciate it if i can get some advice/opinions to guide me in the right direction. Thank you.
Hey @Dan Salim welcome to BP. Be sure to browse through the Learn section above it is loaded with great information. You can also set key word alerts for areas or items of interest for you. you can also search for old topics, there have been many about where and when to form an LLC or sub S company.
I am partial to Wyoming LLC's but in all honesty you should decide where you are going to invest at before you set up your LLC. You must register your LLC in each state where you intend to do business anyway so you may want to just file in the state where you intend to buy. it will save you multiple filings. Unless you have a lot of money you will not achieve anonymity with an LLC. Most loans must be personally guaranteed, and even if you buy cash, the ability to sue the LLC if you are out country and participating in the day to day business you will have good liability coverage. you of course will need good insurance for any property buy that is your first line of defense. Good luck.
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