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Updated over 4 years ago on . Most recent reply

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Flipping Houses in Different States?

Account Closed
Posted

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

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