You went & did RE business in another state??

Thank you for the information a lot of good stuff here,I will bookmark it.

Good stuff here. Nice post...Jan

I really wish I could have put the whole thing in. The part I had to leave out was the information for all the states with wiggling flags etc. But is was 4 pages of 8.5 x 11. Oooops. And that was after condensing it!!!

I got 2 smaller forums to put in yet which have some definitions and explanations. So people know more about the topic.

I almost lost a 1/4m because an agent split the state. So after that I PAID a certified corp. for representation as an agent. So if you do need to, choose wisely.

We are the United States in just that way. We get use to running all over them. But they ARE states of their own governing abilities and internally do so!
You are overly welcome to SPEND you pants off, but watch how you earn it!

doing business in another state(s); and yes, I am getting my foreign LLCs; so hopefully soon I will be able to share with everyone how I did it...

thank you very much for the heads-up; very important to comply with each and every state-would hate to lose those great deals to some oversight law!

valerie

what do you mean? I thought you were good if you have a foreign LLC; when you purchase the property, you put it in the name of the LLC-is there more you need to do?

thanks for the info!

valerie

Thank you. Yes on the deal lose. But what if you had semi-closed or closed on it and they locked it up? Put a judgment on it and were going to take it as in their eyes you had NO business being there, what then? ooouch!

Thanks for going to the trouble to post this.

I have been researching props in some other states (since I live in the "crazy" state) and this is something I had not thought of.

Good job!

Karen

Some states accept your foreign registration as "registered agent" where by you have designated the Secretary of State as the agent. It is goofy, but it is how it works. Some you have to have a separate "AGENT" check is all I'm saying.
More work.

After 2 bad situations it became one of the top 5 on my list of business items!! I got clear of the situation, because I had followed the rules & laws. The agent didn't. I hired the least costly, ooops, without checking on them.

Mike. thanks for the info, this is something I'm sure a lot of us haven't thought about or maybe didn't know about. It's stuff like this that makes this such a great site.

I am heading to that site. I bought three houses out of state. Sold one and have two leased, one with an option. It was an adventure but I really think it was somehow easier then being in the thick of it all. I did everything by computer and phone...everything except the loan docs wich were sent snail mail.

I really hope there isn't a problem.

Looks like I am good. Found this:

47-01-11. Private ownership - Persons qualified - Citizen - Alien. Except as provided in chapter 47-10.1 (and this is basically an illegal alien), any person, whether citizen or alien, may take, hold, and dispose of property,real or personal, within this state.

Anything else I should look for? I did read the states leasing laws. All pretty basic.

Awesome info. Thanks looking out for us all. Will definitley look into this. Like you said; BIG Brother is really watching when we MAKE our money. Another step in the due diligence process!!

I did it again!

again..............

good night!!

Michael,
the applications that I have filled out have asked for a name and address of agent, so I'm assuming that I cannot use the SOS as the agent.
I used Legalzoom to apply for the LLCs and as my agent; it's cost me some, but I guess it's better to be safe than sorry...

valerie

thank you Michael, for all your hard work

I would still check with your attorney in that state or inquire in some mild but direct way. You are probably correct. As I said there ARE exceptions.

is your out of state homes in your name or a business name like a LLC. I think Michael is talking about LLCs and other businesses.

Steve

There you go. Just ask if they filled that part in for you. They are good. But boofs happen. You know do the homework. You seem to be on top of it. Keep smiling it'll work. Now just my experience is the question is there for your choice. You MIGHT be able to use the SOS if it is a choice. There are pros and cons to doing that. A pro to it is you do get notified and if they screw up it is easier to correct. The "con" side is if something did happen. Who's side are they going to be on? JUST MY opinion, if you are doing ALL your stuff with legal zoom and are happy with them go the distance with them it helps.

Steve thanks for the input.
You are correct for the most part. But as you well know there are exceptions where a self-employed person >MAY< have to do this.
Take your situation in Indiana with your folks. A exception to a number of things but yet others came into play.

MY BIG POINT WAS AWARENESS AND CHECK. From self-employed up. It isn't hard to do.
Say a self-employed did say 50 of them. What would you think the state MIGHT say then. Just food for thought.

Good night John Boy. I like your newer picture.

Ooops . I forgot to un-check that email box. Got to fix that.

Good Night to you.

That works for me. Now we all can go reside in some sleep land.

I haven't heard that phrase (Holy Macanolly) in many many years. It has been a long time. Thanks. It brought back some good memories.

I know that my partner and I have our company registered in his state but we operate here in KC. That was a major question for us that we never really found the answer to. This just clarifies for us that we need to be registered here too.

Thanks so much for the post.

Makeba.
I could help. When working in KCK & KCMo it makes a bit more work especially outside the city limits proper of the 2. [[Just check.]] Drat the extra work and costs.

Michael R.