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Updated about 5 years ago, 10/09/2019
Wholesaling: Foreign LLC
I am thinking about how to structure my wholesaling business as I want to do deals virtually, but I want to test certain markets and maybe do one deal in that market befor going all in. Keeping explanations simple for the sake of this question.
Lets say I operate out of my house in San Diego, CA. I do marketing for a bunch of different markets, and end up getting a contract for a deal in Oklahoma. I want to get it under contract as an LLC rather than as an individual. Lets say I already have a California LLC (I don't, but lets say). Can I still sign as the California LLC on the all the docs without having to register as a foreign llc in oklahoma or whatever other state? On the contarcts do I put "Whatever LLC, a California LLC" or don't bother with the California LLC part?
I understand u can't give actual legal advice here, but what do you think. Can anyone share what they think or share an experience like this they had in the past and what they did?
P.S: When I read rules for registering as a foreign llc in some states, they say an exemption is if its a one off deal. Would this test wholesale deal count as a one off deal?