MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

Can a Nevada LLC own a rental in a Florida LLC?

22 Jan 2021 · 1 min

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1:26

Mark Kohler explains two ways to structure rental ownership across states: a Nevada LLC owning a Florida LLC that holds the property, or a Nevada LLC registering as a foreign LLC in Florida to own it directly. The double-layer structure generally offers more liability protection, though both approaches have trade-offs worth discussing with a professional.

Chapters

Now here is for Dr. Jonathan and so you know who you are. Can a Nevada LLC own a rental in a Florida llc? The answer is yes, but let me rephrase it and then we'll talk about if it's a good idea. A Nevada LLC can own a Florida LLC that owns a rental. So you have a rental in Florida on title under a Florida llc, and then the Florida LLC is not owned by you, it's owned by a Nevada llc. Option two, you can take a Nevada LLC and register it to do business in Florida, which is called a Foreign Registration llc. And so the Nevada LLC is registered to do business in Florida, and now it owns the rental property in Florida in the name of that llc. There's pros and cons to both of those. You probably have more protection when you double layer with a Nevada LLC owning a Florida LLC which owns the property, rather than just a Florida LLC owning the property. Registered foreign. So you want to get a consult, make sure you're not spending on that if you don't need it. And I would consider Wyoming instead. There we go. Did you make it? I don't know. I should be timing you. Did I make it? Cory, I made it two seconds faster. Ra.