setting up Florida LLC online or with Attorney?

Question

Hey Bigger Pockets! Just finished my first BRRRR and pulled my cash back out and looking into my next deal! I'm wanting to set up an LLC and looks like it can be done pretty easily online. Any advise about setting it up online or using an attorney? thanks!

Basit Siddiqi · Answer

@Jordan HiebertI personally set up 4 LLC's in Florida and it is a seamless process.Setting up the LLC is easy. I would just suggest that if you need an operating agreement, that you should reach out to an attorney.Regarding the Florida LLC, just make sure you are compliant with certain words not being eligible to be used in the entity name.I.E. I dont think you can use city names in the LLC name.

Joe Norman · Answer

Setting up an LLC (at least in MD) is super easy - I just created one through the Department of Assessment and Taxation in about 15 minutes (plus another 15 to get an EIN through IRS). That said, an LLC may not be your best bet for BRRRR as it could increase your financing costs and hassle - mortgages are much easier to get in your personal name.

Nathan Gesner · Answer

My first LLC (for my real estate company) was set up with an attorney. I've since created four LLCs on my own using an online service. I pay around $200 and that includes the Tax EIN, annual filing, and more. It literally takes about 15 minutes and the company appears as the registered agent on all documents so I'm completely anonymous.