Real estate partnership, need to register in multiple states

[Sharad Bagri]

We are a few friends from California looking to invest in multi family real estate in Ohio. Initially, we were thinking to make an LLC. For LLC, we need to register in Ohio and California. If we don't go the LLC route for now and just make a general partnership, will we have to register the partnership also in both Ohio and California?
Also, for a general partnership, how do we report the taxes. Is it by filing 1065 and generating K1's or is there more to it?

[Kerlous Tadres]

Quote from @Sharad Bagri:

We are a few friends from California looking to invest in multi family real estate in Ohio. Initially, we were thinking to make an LLC. For LLC, we need to register in Ohio and California. If we don't go the LLC route for now and just make a general partnership, will we have to register the partnership also in both Ohio and California?
Also, for a general partnership, how do we report the taxes. Is it by filing 1065 and generating K1's or is there more to it?

Hey Sharad, 

I have an accountant in the Ohio area that I can refer you to who can help you with any tax questions that you might have. Let me know if you would like their contact info

[Samuel Diouf]

Hey Sharad, I would connect with an attorney familiar with the laws regarding OOS entities in the market you're looking to invest in.

I'd be glad to refer you.

[Remington Lyman]

Quote from @Sharad Bagri:

We are a few friends from California looking to invest in multi family real estate in Ohio. Initially, we were thinking to make an LLC. For LLC, we need to register in Ohio and California. If we don't go the LLC route for now and just make a general partnership, will we have to register the partnership also in both Ohio and California?
Also, for a general partnership, how do we report the taxes. Is it by filing 1065 and generating K1's or is there more to it?

It's important to consult an attorney and an accountant eventually, but your first step should be to discuss your plans with your lender. Generally, if you purchase a property in the name of an LLC, you may end up with less favorable lending terms. I've noticed many investors initially write their contracts under an LLC, only to later amend the contract to their personal name to secure better financing options.

[Alfath Ahmed]

Quote from @Sharad Bagri:

We are a few friends from California looking to invest in multi family real estate in Ohio. Initially, we were thinking to make an LLC. For LLC, we need to register in Ohio and California. If we don't go the LLC route for now and just make a general partnership, will we have to register the partnership also in both Ohio and California?
Also, for a general partnership, how do we report the taxes. Is it by filing 1065 and generating K1's or is there more to it?

I recommend making an LLC since there is so much benefits to it. I can recommend you to my attorney who can do this for you.

If you don't want to use an attorney, you can make an LLC through the secretary of state website https://www.ohiosos.gov/businesses/information-on-starting-a...

or other software platforms like zen business and rocket lawyer.