All Forum Posts by: Dwight Henning

thanks Greg, yeah in NJ I pay $50 for LLC creation and 100 for boilerplate operating agreement for each of my properties to get an LLC set up online in 5 minutes and spits out the same documents vs. $1500 for a lawyer so its just common sense to not use a lawyer and throw the $ away. probably the same in NY but was looking for others experiences.

Thank you Greg. It is very simple and cheaper to set up the LLC in NJ vs NY ($50 vs $200 when going on the state website) what is still an open question is I also need an operating agreement for the LLC once set up, wondering if that is also free as part of just getting the LLC set up on the state website or if I need to use a lawyer or a legalzoom type of service to do that.

I live in NJ but am looking to purchase an investment property in NY State. All my current properties are in LLC set up in NJ and the properties are in NJ. I want to set up an LLC for the NY property am am wondering if I can just use a new NJ LLC (cheap easy set up and I can be the Registered agent since I live in NJ) versus having to create an LLC in NY. Does anyone else have NY properties but set the LLC up in thier state of residence instead?

Looking for recommendations to manage multifamily portfolio in Syracuse NY Area