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.
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