WY LLC Live in Massachusetts

[Jesse L. Berard]

Hi all,

I tried a search however I could not find what I was looking for. Hopefully someone could help me out and point me in the right direction. I am looking to invest in single family houses for monthly cash flow. I live in Massachusetts however a lot of the podcasts I have been listening to suggest setting up an LLC in WY. I do not plan on buying any rental properties in Massachusetts at this time, it just happens to be where my primary residence is located. I am wondering if there are any additional costs charged by the state of Massachusetts because I live here. I have been told some other states, California, for example charge a fee even though the owner of the WY LLC doesn't own any rental property in California. Could someone tell me where I can find out if Massachusetts does the same?

Thank you in advance. 

[V.G Jason]

Even if it doesn't, you'll have to register it as a domestic LLC. The WY LLC is just a holdings company, that operates in WY. The child LLCs underneath it should be at the state level.

Wyoming Holding LLC->

Title Holding state-based llc(MA)
Property managing state-based llc(MA)

If this is your primary, it should really only be in your name or a trust so you still get homestead. But consult a lawyer, rather than to listen to me or others on the internet honestly.