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Updated over 5 years ago on . Most recent reply
How & is an LLC required for a Vacation Rental
I am looking to purchase my first vacation rental in another state and am wondering if I should get a traditional LLC or a Series LLC and do I need to contact an attorney to set it up for me. Do I setup the LLC in the state that the property is in (NH) or my home state (RI)? I would appreciate any help as I am hoping to start on the right foot from the beginning. Thank you so much!
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
@Noelle Maine Most folks will agree no need for any kind of LLC if you're financing. If you're paying cash go ahead and throw it in an LLC and worry about series on the next one. The LLC can be formed in any state you wish according to a quick google search. Had to refresh my memory on that one.