LLC set it up yourself or a Lawyer

[Paul Stewart]

Hi All

Recently purchased and Rehabbed a property in Atlantic City NJ for the purpose of Short term rentals airbnb etc. I do own another property that I house hack in NY. I now want to set up a LLC for this property in AC. I see that it is not that hard to set up a LLC on line but then on the other hand I have read that when doing a simple LLC on line it leave a lot of possibilities for the LLC to not be set up correct. I have read several different things on line and even on Bigger pockets but there is a lot of conflicting statements on this. Was wondering if anyone has any experience in setting up a LLC in Atlantic City or NJ and from another state. Any recommendations for a fair attorney to use to do this process would be great as well. Thanks

[Stanley Bronstein]

@Paul Stewart Forming the LLC usually isn't the problem. It's putting a good operating agreement in place and then following the proper procedures once everything is in place to make sure it's run properly. My recommendation is you find a NJ attorney and pay them once, to set everything up for you and to give you some advice. I'm not licensed in NJ, but in a case like this (if it were AZ or TX), I would probably set everything up and charge around $1200 to $1500 and the client would get a couple hours of legal advice thrown in for that price to help make sure we're setting everything up properly.

NJ prices might differ.