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Investing in Real Estate with Clayton Morris | Investing for Beginners

829: Q&A: How Do I Open an Out-of-State LLC? - Episode 829

Investing in Real Estate with Clayton Morris | Investing for Beginners

Clayton Morris

Investing, How To, News, Education, Business, Business News

4.11.1K Ratings

🗓️ 28 March 2022

⏱️ 18 minutes

🧾️ Download transcript

Summary

What's the process for setting up an LLC in a different state? Do you need a physical address to move forward? On this Q&A episode, I'm sharing my experience with setting up LLCs out of state.

I'm also answering your questions on the best banks for finding a HELOC, and what you should consider about eviction moratoriums and missing rent. As always, I appreciate your thoughtful questions and I hope you enjoy this Q&A episode of Investing in Real Estate!

Transcript

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0:00.0

Welcome in everybody to the Investing in Real Estate Show. I'm Clayton Morris. Today on the show we answer your questions. This is our Q&A style show. So you send us a voicemail question. You could do

0:15.5

so by going to our website at morris invest.com and there's a microphone button, a little

0:21.3

microphone button on the lower right-hand side of of the screen just click on that and leave us a 30 second voicemail or so we try to answer your questions as it relates to real estate taxes, personal empowerment around finance,

0:33.5

your journey to financial freedom,

0:34.9

whatever it happens to be,

0:36.2

we try to tackle it here on the show.

0:38.6

All right, let's dive into it.

0:39.7

Without further ado, we're

0:40.6

going to take three great questions today from three great

0:43.2

listeners and our first one comes to us from Nate. How you're doing Mr Morris? I would like to

0:48.9

know how can I build an LLC in another state without having a physical address there.

0:57.0

I wanted to go to South Carolina, but I'm not able to get a physical address.

1:02.0

Thank you for all that you do and have a wonderful day.

1:07.0

Thank you so much, Nate. We have, as you know, if you've watched our show any length of time, we have LLCs all over the country, and we do not have a physical address in those particular countries.

1:18.0

Excuse me, in those particular states.

1:21.0

So we have LLCs in multiple states, yes, not multiple countries.

1:25.0

I don't think they have LLCs in other countries.

1:28.0

Anyway, yes, so we set up in multiple states across the country and you do not have to live there.

1:34.3

You don't have to have a physical office address or anything like that.

1:38.0

It's very simple to do.

1:40.0

In fact, you can have, if you're more comfortable with it, and I would recommend this, you always

1:44.6

want to seek the council of a legal team who's going to set these up for you.

...

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