Forming an LLC as an Active Duty Military Member

[Steve Moyer]

Hi Everyone,

I had a general question about starting an LLC as an active duty member of the military. Being in the military, we move frequently, and with that, I am due to transfer again this summer, likely to the Washington D.C. area. My question is whether or not I should start an LLC now and be ready upon my transfer, or if I should wait until I find a deal, and subsequently start an LLC in the same state as the property? Washington D.C. obviously also has Virginia and Maryland as prospective markets and there is a possibility I would transfer again at a later date to another part of the country. I'm far from a CPA or lawyer, but from what I can tell, Wyoming, Nevada and Delaware may have advantages to register an LLC in, but I'm also not sure if having an LLC in a separate state from your properties overcomplicates taxes. Any insight is greatly appreciated!

Steve

[Kevin Hunter]

@Steve Moyer, welcome to BP. I am also active duty military. I would hold off on the LLC until you find the property and start working the deal. An LLC can be set up in one day and registered in a couple of weeks in most states. My opinion is don't put the cart before the horse. Additionally, as long as you carry enough insurance, an LLC should not be the priority. Analyzing and making deals should be the priority.

Good luck!