Proper Business Model

[Jason Timmerman]

Hello,

I am involved in a multi-state partnership that is interested in investing and flipping homes in New Jersey. One of our partners has an established LLC in North Carolina and the LLC is pre-approved for hard money loans. My question is this: Should we continue under the LLC when investing in NJ properties and have the two NJ partners be added as agents to the principal to conduct business in NJ or should we establish a new LLC in NJ for all three partners? The issue with the second option is that we would have to go through the pre-approval process to secure hard-money loans and we would be unlikely to get as favorable of rates as the existing currently enjoys in NC.