Investing out of state: do I need multiple lawyers and CPA’s?

[Kent Kerner]

Hi, I'm new to REI and wanted to know for investing out of state (buy and hold) do you need a lawyer in the state you want to invest in to help create your LLC and one in your own state for legal reasons? Same question for needing a CPA in the state you own your investment property in along with one in your own state to help file your taxes?

[Sean Morrison]

Disclaimer: I am an attorney, but I am not your attorney. This is not legal advice, just friendly information.

For the attorney question, it depends on what type of attorney you need. So you may need more than one. If you need an attorney to handle an out-of-state property (like closing, legal issues, unique deed deals), they should absolutely be local to that state. Other matters, like your asset protection or business structuring, can be done with somebody else.