Creating an LLC - Please Share Any Thoughts/Experiences

[John Finch]

Hey guys and gals,

Any tips on creating an LLC? Is it worth going through a service like LegalZoom, or should you just handle all the paperwork yourself? Thoughts on creating it in state vs out of state (i.e Delaware, Nevada or Wyoming)?

I don't completely understand the implications/disadvantages for creating an LLC in another state from where you list your "physical address". Is it even worth listing a physical address for your business?

I live in Texas, for reference, and this is where I'll be doing most of my business starting out.

Thanks in advance for all your great insight!

[Tahra Wright]

@John Finch if it's a single member LLC (meaning you have no other business partners where you'd need an operating agreement) then you can actually do it yourself and it will only cost you the filing fee. Usually you can go to your state website and do it. Set it up in the state where you are doing business. For real estate there's no benefit really to having the LLC out of state. If you form it in another state then you have to still register for business in the state where the property is located and now you have two sets of fees so not worth it. I set up all my LLCs myself in NJ where my properties are. A few years back we had a rental in TX and I set the LLC up there. So that's my preference. Good luck!