How to start your LLC in Florida?

[Jeff Young]

I'm starting my LLC in Florida, and have spoken to a real estate attorney and my tax consultant. They both agree an LLC with my wife and me is the best entity given are situation/finances/assets.

Does anyone have recommendations on whether to use the real estate attorney to draw up the LLC/Operating agreement and/or the estimated cost of doing so? I would do it myself on incfile or some site like that, but would there be a benefit to having the attorney do the filing? I'm not trying to cut corners or save money, but if there is no benefit, then I'd rather save the extra $1,000 or so for my first BRRRR.

I appreciate any feedback/information.

[Clint Coons]

Mike makes some excellent points about the asset protection benefits of LLC in Florida and the anonymity benefits of land trusts. One additional point you need to consider is doc-stamps. If your property is financed, then moving it directly into an LLC will trigger a transfer tax in Florida. To avoid the charge, put your real estate into a land trust then assign your beneficial interest to an LLC. As Mike suggested setting up on your own is possible, but you do not know what you don't know, and a simple mistake like I discussed could end up costing you far more than working with an experienced firm.