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Updated about 3 years ago on . Most recent reply

User Stats

37
Posts
18
Votes
Ken Gurta
  • Investor
  • Hoschton, GA
18
Votes |
37
Posts

LLC advice needed quickly

Ken Gurta
  • Investor
  • Hoschton, GA
Posted

I am purchasing a condo in Florida that is in a resort and is 1 block from the beach. I will be renting it out via Airbnb, VRBO, or other. My lender is requiring me to form an LLC for this property. I live in Georgia. Should I form the LLC in Florida where the property is located Or should I form it in Georgia where I live? Please give me your opinions. I own SF homes in other states that are not in LLCs due to lender guidelines. Thank You.

Most Popular Reply

User Stats

2
Posts
1
Votes
Ebenezer Nuakoh
  • Rental Property Investor
  • Shrewsbury, MA
1
Votes |
2
Posts
Ebenezer Nuakoh
  • Rental Property Investor
  • Shrewsbury, MA
Replied

As Satish stated, the LLC should be in the state the property is in (FL). That would give you more protection just in case something unforeseen happens.
- I am not an attorney . 

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