Legal Question in Business Law in Iowa
Should I start an LLC in Iowa or Florida? I reside in Iowa and am purchasing a condo for rental income in Florida. Thank you!
1 Answer from Attorneys
Your question isn't one a lawyer could answer without sitting down with you to learn more about your situation. I am a lawyer and licensed broker in Iowa. I also am an investor in commercial real estate, which includes things like condominiums. While I live in Iowa, I have owned real estate in Iowa, Illinois, Georgia and Minnesota. What I have done is create an Iowa LLC, and then registered it through the Secretary of State in the state where the real estate is located. I have registered it as a foreign LLC doing business in the state where the real estate is located. I am not offering you advice to do this, my answer is simply to show you what is possible to do. You need to sit down with a lawyer to discuss you own situation. I have never owned real estate in Florida. Enough said, no go find a lawyer and get some real advice.
Related Questions & Answers
-
You I belong to a fishing club in Iowa and the former president and a few club... Asked 12/13/16, 12:55 pm in United States Iowa Business Law
-
I am a member of a non-profit organization. For the past few meetings, another... Asked 12/06/16, 7:51 am in United States Iowa Business Law
-
I opened a joint checking account with my mother as a minor. As an adult I never had... Asked 10/20/16, 11:32 am in United States Iowa Business Law
-
I hit the Iowa Lottery several years ago for a very large amount of money. Once I... Asked 9/16/16, 6:57 am in United States Iowa Business Law
-
What is the advantage of a LLP? Why would partners choose LLP over LLC? Asked 8/23/16, 10:58 am in United States Iowa Business Law