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What to know - buying a CRE in Florida and I live in NY -

Customer Question
Hello, what to know...

Hello, what to know - buying a CRE in Florida and I live in NY - can i just form the LLC registered in Fl? is there any other considerations?

Lawyer's Assistant: Has an LLC annual report been prepared?

Hi pearl - i'm just buying the property in the next few weks - so nothing so far

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Any profits coming out of the property would be income for me - live in NY

Submitted: 8 months ago.Category: Business Law
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Answered in 12 minutes by:
8/1/2017
Business Lawyer: KLAW, Attorney replied 8 months ago
KLAW
KLAW, Attorney
Category: Business Law
Satisfied Customers: 2,137
Experience: I have over 20 years of experience in commercial real estate law, finance, consumer credit, landlord tenant, and business law.
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Good evening.

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Customer reply replied 8 months ago
Hi, I'm buying a commercial property in florida for income. I live in NY. I will hire local property managers etc and any profit after the expenses and loan expenses are paid will be taken as income. I want to form a llc for the property - which state to form it Fl or NY - obviously need to minimize any tax impacts and other expenses.
Customer reply replied 8 months ago
ok..fixed the payment issue.....pls continue
Business Lawyer: Michael Bradley,
 replied 8 months ago
Michael Bradley
Category: Business Law
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Business Lawyer: Damien Bosco, Attorney replied 8 months ago
Damien Bosco
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Hello: Are you still looking for help on your question? I see you already received information on another question that is now closed.

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