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Updated almost 2 years ago,

User Stats

146
Posts
108
Votes
Daniel Murphy
  • Financial Advisor
  • Saint Paul, MN
108
Votes |
146
Posts

Need help with FL STR LLC

Daniel Murphy
  • Financial Advisor
  • Saint Paul, MN
Posted

Hey all, we have a short term rental in Florida, we live in MN.  

It is currently owned under our personal name & we wanted to setup an LLC to transfer the ownership into this. I'm comfortable with the whole LLC, bank account etc setup. I just wanted to clarify from those that know some other details.

Does our LLC need to be setup in FL as opposed to MN? If so, I've also heard we need to setup our registration with the city & state with the LLC rather than the individual. Am I remembering that correct?

Lastly, what is the best way to move the mortgage into the LLC Ownership and is there anything else I'm missing?

Thanks in advance! 

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