LLC Question for an out of state multifamily property

[Moncy Samuel]

I reside in Georgia and closed on a Quadruplex in SC using conventional loan. I am considering to move the property to an LLC and was seeking some guidance on whether this LLC need to be registered in SC or Georgia. Any advice.

[Zach Scherschel]

Quote from @E. C. "Stony" Stonebraker:

@Moncy Samuel, I recommend you check out the numerous videos by Toby Mathis or Chris Coons of Anderson Business Advisors.  They have legal and accounting help for RE investors.  Search for them on YT and they have more short videos than you can watch in a year.  Then consult an attorney.  Don't invest before you get legal help to understand the consequences.  Good luck.

Agreed with all of this and one additional note, talk to your lender before you consider moving into an LLC with a conventional loan. Very good chance your lender will force a refi into a commercial loan, equally you're insurance will change. Depending what # property this is for you, I'd consider just leaving in conventional and getting an umbrella policy over the top if you're worried about liability.