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Updated almost 5 years ago on . Most recent reply

User Stats

139
Posts
54
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Jay Yoo
  • Investor
  • Seattle, WA
54
Votes |
139
Posts

LLC for OOS investors

Jay Yoo
  • Investor
  • Seattle, WA
Posted

First of all, apology if this topic is too commonly posted. But I can’t find a specific post that addressed my questions.

Im starting OOS due to my area being too expensive for properties.

I would like to make sure I have well based set ups before I invest OOS.

Ive seen many posts and responses. LLC is no benefiting if you have one or two properties, but task benefit especially OOS and liability at ease.

Having LLC with no any good portfolio, l would not be qualified to borrow money because a brand new LLC doesn't have any transactions or business history.

Then, should I just buy properties under my name for now?

Would I be paying double taxes to the State for both Im living and where I will buy properties?

Would forming a LLC be helpful for taxes?

Should I have each LLC on both States?

Thank you for you time in advance.

Most Popular Reply

User Stats

4,249
Posts
2,630
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Lane Kawaoka
  • Rental Property Investor
  • Honolulu, HAWAII (HI)
2,630
Votes |
4,249
Posts
Lane Kawaoka
  • Rental Property Investor
  • Honolulu, HAWAII (HI)
Replied

Not giving legal advice. If your net worth is low (under 300k) then I might not make sense to do a LLC. You would not be much of a target)

  • Lane Kawaoka
  • Loading replies...