New Investor Looking to Create first LLC

3 Replies

I just bought an investment property in Memphis, TN and I need to create my first LLC. Any thoughts on what state I should create my LLC in? Additionally, should I create my LLC online or seek lawyer help?

Consult with a good asset protection attorney. Generally speaking, you should create one in TN, but that is just my opinion.

I would recommend to consult with an asset protection lawyers. Typically i have seen something like this.. create you LLC where you property is and have the LLC report to another LLC in WY or NV. Something like this...

Create "TN LLC" which will be "Member Managed" where the Member will be Wyoming LLC

The Wyoming LLC will be "Manager Managed" where the Manager will be anonymous so that no one can trace you back. It is a "Holding" LLC. Again, i am not a lawyer, run the same with a lawyer. I have also heard that it's just not having a LLC matter, you need to manage and file the following docs every year without fail.

    1. COF Certification of Formation
    2. Company agreement.