Posted by JHyre in Ohio on October 08, 2001 at 06:22:39:
You can use a MO LLC, but it will have to register in IL to do business and pay MO and IL fees…stick with IL entity if you are doing mainly IL deals…I sympathize, IL is a difficult state to deal with.
John Hyre
LLC ? - Can it be formed outside of state??? - Posted by Brandon Treat
Posted by Brandon Treat on October 08, 2001 at 24:02:59:
Hello to all,
Have a question I need guidance with… In pursuing the ideas in Steve Cooks’ course on Wholesaling, I want to make offers on listed/bank-owned/REO properties but Steve’s method of making these offers and overcoming the ‘non-assignability’ clause is to make the offer as an LLC.
What I want to know is this, here in IL there is a $400 plus fee to originate an LLC, thus making it not so practical. The thing is I live very close to the MO border where the fee is I believe $109.
If I make an offer here in IL as ‘123 Main Street LLC’ and get it accepted, can I have the LLC formed in Missouri or does it HAVE to be done in the state where you are purchasing the property???
Would appreciate input…
Brandon Treat
Southern IL/St. Louis Investor