All Forum Posts by: Joseph Collier

If you plan to have multiple units, I would suggest looking into creating a foreign series LLC. As PA does not offer series LLC's directly. They do however honor foreign series LLC's.

What state are you located in? You'll definitely want to open a separate account so you're not commingling for book keeping purposes. If you have an LLC, I would even suggest putting your investment property under your LLC. Do you plan on acquiring more than 1 property?

If you're opening a bank account out of state of your LLC, generally you'll need a state business license for the state you want to open the account and register as a foreign entity. If you do not plan to conduct business in NY then the bank may require you to fill out a foreign entity declaration (stating that you will not be conducting business in NY) and you can skip the registration.

it depends on if your trust is a business trust or a family trust. A lot of banks will not open a business trust. You would need a business friendly bank, Not a big bank. What state is your LLC?

What state does your partner live in? Your LLC was created in GA?

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