Can someone tell me if there is a public information board online to find out if a Florida LLC can buy rental property in other states, such as Ohio and NC? I could ask a lawyer but thought maybe this is pretty straight forward info I can go to the source directly? Thank you for your help, BP community!
Yes u can buy out of state with the FL LLC. You will have to register the LLC in that state
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It is actually pretty straightforward. You register the LLC as a "foreign LLC" in the other state (Ohio, NC) and then you can buy, sell and conduct any other business there.
Why won't lenders loan to LLC?
Thanks everyone. Just to be clear, this means I can set up on one LLC in FL and register it with any other state to purchase property in that state. I thought maybe there is a matrix relationship where LLC in certain states can only buy in certain other states. Looks any LLC can buy out of state property as long as it's registered in the foreign state. Is this correct?
New to real estate investing. What's the benefit of creating an LLC out of state versus in state where property reside?
I'm just trying to put properties in different states under one LLC.
and a silly question --how do u tag someone here? If you would like to respond to someone in this thread and want to do "@" someone. I somehow can't find it in the tool.
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