Which state should I get an llc in?

[Natalie Lindsey]

I am trying to figure out which state I should get an llc in.

We own property in OH and WV but have chosen not to get an llc for those properties up to this point. They are residential homes with long term tenants. We do have an umbrella insurance policy though just in case.

With that being said, we are trying to expand into more Multifamily properties. We currently live in TX due to a military PCS. We have been looking at properties here but we are also looking at properties in KY and OH. We have a promising lead on a 7 unit property in KY and the same owners also have a off market 20 unit that they may sale in the near future. We have decided it’s time to go ahead and get an llc. The problem is we aren’t sure if we should get it in TX, OH, or KY. We are supposed to view the 7 unit, virtually, on Friday. (We have family members in the area that are going to walk the property for us while we are on video call.) We are also viewing properties here in TX on Saturday. Both seem to be pretty promising possibilities.

I want to get our llc set up ASAP so we can make offers on these properties and work towards getting lending. Any advice on which state we should go with since we are interested in investing in all 3 states? We do plan to be in TX for a good while but we don’t have state ID’s here since we just recently moved here and it was for the military. We also really like OH and KY for cash flow. TX is better for appreciation. We want both and like that it helps us diversify a bit being in the different markets. Any advice appreciated.

[Bjorn Ahlblad]

Your LLC does not have to be in the same state as your property. Wy and Delaware seem to be the most popular.