Rentals in 84102>Question Details

Tytoner21, Renter in 84102

I am looking to purchase rental properties in Nevada with an LLC. I live in Utah.

Asked by Tytoner21, 84102 Tue Feb 7, 2012

I would like any information or advice on how this can be done and what registrations I would need to acquire before making the investment in the property. I live in Utah and wonder about restrictions or problems with operating the LLC here but owning the real estate in Nevada. Really any information would help greatly as I am only in the idea phase. Thanks!

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Justin is spot on. There are good deals in Nevada but I personally think if your going to invest out of state there are better places to invest. That being said there is no better place to invest than your back yard. I have heard of way to many people getting "raked over the coals" in states that they did not have a man on the ground in. As far as the LLC i think you should be fine buying houses in Nevada with a Utah LLC but you could also just create a Nevada LLC to buy properties in. The Nevada LLC has been know to have better protection anyways. Some benefits of a Nevada LLC are:

- Nevada is one of the most difficult states in which to “pierce the corporate veil.”
- A Nevada LLC allows for “multi-tiered” ownership
- Nevada allows for “single member” LLCs.

There are a few other benefits but you should really consult with a CPA on this aspect of your investment strategy.
0 votes Thank Flag Link Tue Feb 7, 2012
Nevada is super cheap. And it seems good now cause its newer homes that look nice but with their unemployment being so high and there foreclosures still sky rocketing some experts are saying Nevada is 30 years away from returning to their prices. Arizona is 17 years. Which means that home prices will still decline and rents will decline. You want a rental where the job market is healthy. Lots of jobs means rents will always be solid. There are a few places that have solid rental markets where prices are still low. Utah has some great in slc co where you can pic up homes for 70k and rent them for $900 + a month. Other areas Ive seen do really well as well are ohio, and Indianapolis. Both those places have low prices for homes (like 40k) fully rented with year leases in place and property management companies set up, and you can get a good renter that pays $650 a month.
If your interested in any of those areas then call me cause I have connections to all those areas I mentioned.
P.s. we can get you homes in Nevada as well I just wouldnt recommend it :) And as far as llc its not a problem.
Justin Critchfield
RCI Realty
Web Reference:
0 votes Thank Flag Link Tue Feb 7, 2012
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