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Updated over 3 years ago, 08/09/2021

User Stats

34
Posts
7
Votes
Joshua Boyce
  • Investor
  • Greenville, SC
7
Votes |
34
Posts

Can't figure out best business structure

Joshua Boyce
  • Investor
  • Greenville, SC
Posted

I need help figuring out the best way to structure my rental business. I've called multiple lawyers and really gotten no where. 

I own a property in FL and one in PA. I live in SC and move around often. So this is causing me issues on how to structure as I prepare to buy more property in PA and maybe other states. If I open and LLC, I have to register and maintain it annually as a foreign entity in each state. Then, I'll have to somehow move my home state LLC each time I move which may cause me to have to register each foreign entity all over again.

There has to be a less maintenance and more cost effective way to protect myself while providing anonymity. 

Every time I move to a new state or purchase in a new state, It's going to be a pain to maintain all of these LLCs not to mention the costs. My main goal is anonymity since my insurance policies on each property have 1 million liability. 

I plan to grow to 30 door is my goal. Surely I'm not the first person to move around while owning properties in other states.

Can anyone please help me with some direction here? It would be greatly appreciated.