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Updated over 7 years ago on . Most recent reply

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Russ Vastano
  • Roeland Park, KS
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First Rental, setting up LLC and EIN

Russ Vastano
  • Roeland Park, KS
Posted

Hello there BP Community! This place has been a wealth of info. I really appreciate this community and all the advice it has to offer! However, I need some clarity on a couple subjects.

I live in Kansas City, which is split between MO and KS. My wife and I recently moved to the KS side, but kept our MO house to use as a rental. We just set up an MO LLC for the rental on incfile.com. Now, I'm setting up the EIN number and its asking where my LLC is physically located. Would this be my registered agents address?

Thanks in advance!!

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Dan Krupa
  • Real Estate Broker
  • Phoenix, AZ
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Dan Krupa
  • Real Estate Broker
  • Phoenix, AZ
Replied

@Russ Vastano , yes then it would be in MO. Also, you understand you will probably pay your lawyer to be the agent - correct?

We have LLCs and I am a firm believer. However, if this is your first rental and you don't plan to purchase another property for a while, it isn't necessary. Get a million dollar umbrella policy coupled with a really good fire policy and great lease - you will be fine.

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