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Updated over 8 years ago,
NEED ADVICE: LLC, Foreign LLC, and Investing Out of State
I am wondering how I can legally protect myself with an LLC with an out of state rental property. I currently have an LLC in Delaware, live in California and am in the process of purchasing out of state. I have a couple rental properties in California, but is not under my LLC. I created a foreign LLC in California thinking that I needed to since I would eventually be receiving profits from rental properties out of state, which I want to put the homes under my LLC. I've been reading that should have created foreign LLC in the state my rental properties are in and not in California, the state I reside in.
1. Did I need to create a foreign LLC in California for my returns from my rental properties?
2. Do I need to create a foreign LLC in the state(s) I am going to invest in?