All Forum Posts by: Bryan Knight

@Ward Conville Wow I've never heard a story like that before! Acquiring and selling the same house twice! lol. That's awesome. 

Hey @Ricky Jefferson ,

I'm kinda in a similar boat to you. I'm from Mississippi but live out in Las Vegas. I'm looking at lower cost deals out there and am salivating at the thought of picking up serval properties out there. I'm currently under contract for a primary residence here in Vegas, but once we close on that I'm going to go full force into acquiring properties back home in Mississippi. I'm actually taking my first trip back home in 5 years tomorrow after I'm done working! Going to see my daughter from a previous marriage and visit family but also going to be double dipping and looking at properties while I'm there. I'll be in Laurel, MS and will look both there and in Hattiesburg while I'm home. 

I'm acting as my own agent in my primary home purchase and will be getting a commission just north of 10K that I'm going to use as a down payment similar to you. Best of luck man. 

I'm interested in this as well. 

This is true you can conduct business anywhere with your LLC. The reason my account explained to me is there are sometimes cost implications for foreign LLCs doing business in a different state. Every situation is different but in some cases, you can save a little money by having the LLC in the state where you'll mostly be paying taxes for the business being done.

"A foreign limited liability company is defined as an LLC which has been formed in one state but which is now carrying out business or wishes to carry out business, in another state. This is in direct contrast to a domestic LLC, which is a company formed in the state in which it will be doing business." 

In some cases the cost is negligible. If you're concerned about tax implications then I would check with your accountant. From an asset protection stance then I don't think it matters but I would check with an attorney for that. 

My accountant tells me to incorporate wherever the money is going to be made. So Tennessee. I live in Nevada but invest in Mississippi where I was born and raised so I have a Mississippi LLC for that investing.

I'm a remote software developer working with a government contractor building custom software for the US Government. I'm also a licensed real estate agent although I've transitioned from running a full-fledged real estate team working with buyers and sellers and mostly banks for REO residential properties here in Las Vegas to really only working with a few investors and using my license to find my own deals :-)

@Josh Jacobson, I haven't gotten too deep into the specifics. If you wanted to inform me more about the needs that you're looking to solve then maybe I can create something that would fit those needs. 

 This is an interesting thread. I'm a software engineer and I was thinking of building a new project that was real estate/business related. Would love to chat about your ideas. 

Hey Paul, I live out in Vegas. (Prior USAF, Nellis was my last duty station and I just stayed here) but I'm born and raised in Soso, MS about a hour and half drive north of Kessler. I'm investing in real estate back there. I'll keep in touch.