If you do that you will have to register your LLC in Texas as well so that it can do business there under Texas law, a conversation would be in order with a business attorney in order to determine whether you should set up a separate Texas LLC for your land purchases there. Remember, having too much value/property in a single LLC could be problematic liability wise (as in, it exposes all your assets/properties in that single LLC to liability potentially). A conversation with a business attorney could establish the pros and cons and how to best undertake to protect yourself and your various properties.
I agree with my colleague. An LLC is a great way to take ownership of a property but there are other factors to consider. A business attorney and CPA can help you navigate to best determine your course of action. You or may not want to make special tax elections with your new entity, so that's where a CPA can be very useful. Your estate plan should also account for how you plan to handle properties. Without using an LLC or trust, each state where you have property will require a separate probate. The LLC and/or trust is always the cheaper alternative. One final comment - you should look into the cost for insurance on property owned through an LLC, it usually costs more than individual ownership.
Yes. You already have two excellent answers. You probably want separate LLC for each property, especially if there is associated liability, such as rental properties, but even with undeveloped land that is the conservative approach. This is where consulting with a business attorney is a good investment. You also should consult with your accountant regarding taxes, and as noted, if have a Florida LLC, would have to register it as a foreign entity doing business in Texas. You may be establishing duplicate filing requirements. It may be more effective to have a TX LLC, BUT before doing any of this consult with your accountant regarding taxation differences in either state.
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