LLC structure for new investor

[Edward Acker]

Just looking to see specific LLC information for owning investment property in Florida. Recommendations of attorneys or if you set it up online yourself and any other relevant information.

[Luis Alvarez]

@Edward Acker I'm going to preface this with saying that I have a legal background in estate planning and asset protection, however, this is not specific legal advice, just my opinion.

Keep in mind you should also adhere to all the corporate formalities (separate bank accounts, have an Operating Agreement--even if it's just you as the sole member, file annual/bi-annual filings). While setting up an LLC on your State's website is pretty straightforward, there are a few more steps that truly makes it show that you are treating it as a separate business entity and not just an extension, an alter-ego, of yourself.

Also, please keep in mind the new Federal mandates for the CTA (Corporate Transparency Act) which need to be filed by every entity in the U.S. or you can face heavy fines and/or jail.

Hope this helps!