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Alabama Real Estate Q&A Discussion Forum
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Updated over 6 years ago on . Most recent reply

User Stats

36
Posts
4
Votes
Syrica Brown
  • Mobile, Al
4
Votes |
36
Posts

Tax lien properties - LLC

Syrica Brown
  • Mobile, Al
Posted

I have a couple of properties OTC and currently have the tax lien certificate. I've been getting advice that I need to setup an LLC for asset protection. I am not sure of the purpose or if this would be beneficial for me now. I would love some direction on the questions below. Again, I'm not sure if this is the direction I should go in. Thanks in advance for responding.

1. Currently reside out of state and I'm not sure what state to form the LLC. Should I form the LLC in the state I reside or Alabama where the properties are located?

2. Since the properties were purchase in my name, how do I transfer them to the LLC?

3. Should I wait until I have more properties to form an LLC? currently have 2

4. Do I need an LLC for each property?

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