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In this episode, I walk you through the exact steps to correctly set up an LLC in any state—and avoid the critical mistakes that make over half of DIY LLCs essentially worthless. I cover the full 7-step process, the difference between proper and flimsy asset protection, and the most common compliance missteps investors make. Whether you’re a new real estate investor or an experienced business owner looking to tighten up your asset protection strategy, this episode gives you everything you need to know to get your LLC done right the first time.

Timestamps:

00:00:00 – Intro: The difference between real asset protection and useless paperwork

00:01:22 – Why LLCs offer protection, tax flexibility, and professionalism

00:02:17 – Step 1: Name availability and selecting a registered agent

00:02:57 – Step 2: Filing articles of organization and creating an operating agreement

00:04:39 – Why poorly written operating agreements can cause major legal issues

00:05:10 – Step 3: Getting an EIN and common filing mistakes to avoid

00:05:47 – Step 4: Opening a business bank account

00:06:41 – Step 5: State-specific requirements, annual filings, and fees

00:07:39 – High-cost vs. low-cost LLC states: what to expect

00:08:08 – Step 6: Common maintenance mistakes that lead to LLC “piercing”

00:08:39 – The importance of proper documentation across multiple LLCs

00:09:33 – Step 7: Updating records after life or business changes

00:10:32 – When to hire a professional vs. DIY

00:11:18 – Why professionals like doctors and CPAs often need PLLCs instead

00:12:30 – Final thoughts: When to DIY and when to seek expert guidance

Want me to answer your real estate questions? Come to my next Ask Me Anything Q&A:

► https://taxstrategy365.com/pod-ama

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*None of this is meant to be specific investment advice, it's for entertainment purposes only.