Real Estate Agent · Cedar Rapids, IA · Member since 2017 · 53 posts · 27 votes
6y
The easiest way to set up an LLC in Iowa is to go to the Iowa Secretary of State website, then just follow the drop down menus to "business entity filings." It doesn't take long, just enter your info and submit copies of your articles of incorporation and operating agreements if necessary. This route will cost you $45. You can also hire a lawyer to do it for you and draft any necessary documents, that will probably cost a few hundred. Good Luck!
Hello all, I need some help in setting up my LLC. I invest in Council Bluffs Iowa but live in Los Angeles Ca. Any help will be appreciated.
When investing out of state, a common strategy is to create parent and subsidiary LLCs. The parent LLCs would be local to you in CA and the subsidiaries would be in the states you invest in. You can create multiple subsidiaries to separate your assets and prevent problems in property spilling into the others, it also makes administration more streamlined since your LLCs are all in one place. That strategy is more expensive and the parent LLC is still vulnerable, so you have to decide what's important to you. The downsides of the expenses can be mitigated with a series LLC structure. Here's a good article for learning more about that. https://www.fortenberrylaw.com/holding-company/