General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago,
Help with Entity Setup for new real estate business
OK, so I have heard a lot of different advice from friends in real estate, property management companies, my lawyer and COAS on the right way to set up your business. I am interested in to invest out of state and currently have 2 properties in NC. Has everyone set up an enterprise holding company and open a brand new LLC for each new property? Do you have a registered agent for every property you purchase out of state and assign that to your LLC? Are you paying every single time to have a registered agent locally as well as paying to set up your LLC for each new property? the amount of fees I am paying just to get everything set up is insanely high and really eating into my time to start investing and my upfront investment money. Any advice is greatly appreciated!
For reference I set up the enterprise holding company in Eyoming and have a legal team as registered agent for $230/year, then set up 2 LLCS in NC and I am the registered agent since I am local at $200/LLC per year and then Ohio I paid $99 to set up LLC and yearly fee then $120 for local registered agent.