Updated about 10 years ago on .
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Filing as a foreign entity
Hello, I am a out of state buy and hold investor. I have a LLC in Hawaii and I have my hawaii property in it. I bought a property in Indianapolis and was advised that I can put it in my hawaii LLC and file as a foreign entity. is this the correct way to do this? if so how do I put another property from out of state into my hawaii LLC? I am planning to buy several more in Kansas city in a few months, should I put those in the same LLC in hawaii or set up another LLC in Missouri?
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You should really have an LLC that owns each property. Reason being if your LLC gets sued they could get any assets that it owns. Then have your main LLC own each of them. Then you own that LLC.
You will need to file your main LLC in each state you do business in as a foreign LLC. once you do that you can create a LLC for each property with your main LLC as the owner. In Missouri for sure you will need to have a registered agent that lives in the state.
If you have questions feel free to call me.