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Updated about 3 years ago,
Form LLC in WA or WY for Syndication and Rental income
Hi,
I am a CA resident, moving to WA in next few weeks. Just closed on a primary residence there in WA.
I am looking at couple of Syndication deals located in Florida and Texas. Want to invest into these deals through a LLC (for asset protection). I am debating forming a Single Member LLC to do so either in Washington (future home state) or Wyoming. I also plan to use this LLC for any out of Washington investment, passive or active like SFR, 4plex or Commercial Multifamily.
If I close a property in Washington ( actively looking), I can do so in another LLC that I can form later.
Please advise if I can do something else to structure it better? What pros and cons can I encounter going either route?
Thanks in advance!
Raj