All Forum Posts by: Rich Sutherland

Hello All,

I am trying to purchase my first rental and I was hoping to place the rental into an LLC after I bought it. I would be buying it and then changing it over later to the LLC. I was just informed that this doesn't work or Banks don't approve it.

Does anyone have any thoughts, I'd rather not do a commercial loan, in regards to moving it over And does it actually cover me at all in an LLC in this situation.

Thanks for your assistance. 

Thanks very much to everyone for your comments and time.  @Robert LaBrie I will take a listen to the audio books you have suggested.

Thanks

Thanks guys.

Steve, thanks very much for that. Whats the difference and reason for splitting it up like that? We will probably be flipping, so Nevada would not be the best option here?

Thanks again for any insight or assistance in guiding me in the right direction.

Rich

Hello All,

An absolute newbie here!

I have a partner who has created an LLC in Nevada for flipping houses as they were advised it was best. Ive done a little research and looks like it is more beneficial to create an LLC in the state we are flipping in.

We would be investing and flipping in CT & NY.

How does the creation of the LLC in NV 'trump' one in CT or NY? Is it more beneficial to have it registered in NV and pay the out of state fee's etc?

Any help or assistance is greatly appreciated.

Thanks in advance for your experience and knowledge on this complicated issue!

Cheers