Single-Member Versus Multi-Member LLCs
Multi member LLCs aren’t always required, it depends on the state statute. In Texas, for example, a single member LLC is fine, in Florida, for example, you need more than one member and they also can’t be married. What’s important here to note, is that you could file a Texas LLC and use that LLC in any state that you would like. When the court reviews whether to uphold that LLC in the other state, they’re going to look to see whether that LLC is properly formed in the state of Texas. I recommend that you would form your LLC in Texas, or a similar state, that has very lax and strong asset protection laws so that way you’re not stuck with getting caught on a technicality. My name is Scott Smith, I’m an asset protection attorney out of Austin, Texas, and a real estate investor, and I wanna help you.