LLC to buy properties in different states

[Marco Trimborn]

Hi,

I currently operate a Nevada LLC with a businesspartner whose sole purpose is to buy and hold real estate. So far the LLC only owns land in Nevada, but we are looking into purchasing a single family residential to rent out in Indiana. Are there any legal requirements for a Nevada LLC to purchase a SFR in a different state? The SFR will be fully managed by a local property management company after closing. In which case are business licenses required?

Thanks for help!

Marco

[Joe Funari]

@Marco Trimborn check with the state your purchasing in because you will need to register your LLC. For example, here in Texas where I hold investments any company that is not set up here needs to register as a "foreign" company and pay a one time fee of $750. Thus, I recommend you research out of state registration on Indiana. Be sure you also register your company before your purchase your first rental in that state. But should be fairly easy and straightforward.