Hi! I’m a Canadian and I want to start a business in real estate in Florida. I was told that a LLP is better than a LLC and that I do not need a EIN. Is this right? We are two in this business. Thank you for your time.
I haven’t heard about any special benefits of using LLP for real estate (as opposed to using an LLC), however this article has great review on why LLC is better than LP when used to hold rental investment properties.
As far as EIN goes, since its two partners (and I presume both are non-US persons) you would probably need to obtain an EIN for your new company after all.
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