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Updated over 4 years ago,
Flipping Houses in Different States?
Hello,
I had a question about flipping houses in different states, and the legality behind it.
So, long story short, my S Corporation is doing the flips. It is incorporated with Wyoming (for obvious reasons), which is why I'm asking this question. I do not plan on doing many of my flips in Wyoming, but rather in any state where I can get a good deal. I understand that whenever an entity does "business" in another state, it has to file additional paperwork with that state to make a "foreign entity". However, I don't want to file with every 50 states because it's not guaranteed that I will do business with them (or even more than once) - it's not a long-term hold, but a quick fix/flip.
Can I do flips in other states than Wyoming without doing additional filing, or is it actually required that whenever I buy a house to flip, in another state, I have to file for a foreign entity?
Thanks in advance!!
- Josh