I have been reading books and watching podcasts for the last few weeks. As I have been watching and reading and LLCs have been brought up. I have noticed their is a Rec commendation out there to start your first LLC in a state that has one either anonymity or two a charge order or both.
That before you form the LLC in the area you plan to invest in, you need to ensure that LLC for the specific stare has external asset coverage. If not you should form your first LLC in Wyoming or Nevada. Has anyone else heard this from an attorney or another investor recommending this formation process?
For instance I live in Washington state and I know the markets here right now are fairly high for a beginning investor especially in the Seattle area. So after reading Bigger Pockets books and watching podcasts I thought it might be good to start in the mid west: IL, IN, OH, WI or in the south east AL, SC or AR.
I realize I would have to form an LLC in the state I choose to start investing with, but should not first from an LLC in one of those states mentioned above and do I still need to form an LLC in Washington?
Thank you in advance for any advice
Respectfully,
Anthony Wright
