Making an Offer on Apartment

[Nghi Le]

I am completely new to the world of apartments, but came across an off-market out-of-state deal that was worth exploring. I'd like to lock it down as soon as I can, but the problem is that we don't have the entity structure set up yet (between my partners and I). I was advised by a local investor to use an attorney in that state to write up the offer, and also potentially create the entity (in that state). Finding and screening that attorney may take some time, so I'm considering just creating the LLC in my own state (I can easily do that online now and worry about the partnership structure in the operating agreement later) and then submitting an offer using my own local attorney or asking the seller's broker to write up the offer for me (and I'd review the terms).

Or maybe just make the offer in my own name with a clause in the contract that I may close in the name of an LLC in which I would be one of the owners, kind of like an assignment clause?

What's your take on this?

[Cody L.]

I generate a new LLC each time I buy so if I'm out of them at the time of offer, I just do it as my name "and/or assigns" and update it if/when it goes under contract.

Dude. Don't sweat that stuff now. Worry about locking it down under contract. Deal with all the other BS after.