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Updated 1 day ago,
LLC - many questions, please help!
I think it's probably better to hold real estate in an LLC than in my personal name. Reason being is that I'm not a US citizen and I do not live in the US.
I have so many questions though.
1) Can anyone tell me more about series LLC and whether it's necessary to hold each property in a separate LLC
2) What are your thoughts on a trust, rather than an LLC - advantages, disadvantages etc?
3) Any specific states you recommend to set up any of these (Not sure where I'll be purchasing property yet, maybe Detroit, maybe Cleavland, maybe Augusta, maybe Des Moines, maybe Saint Cloud, maybe Memphis...)
4) I already have a LLC based in Hong Kong (We call them limited companies, but the principle is the same). Can I use this to purchase and hold US-based real estate?
Any other advice, or pieces that you think I'm missing - I'd be grateful for any and all wisdom that is shared with me.
Thanks.