Many people choose entrepreneurship for the opportunity to live and go where and when they like. If this means owning homes in multiple states for you, you have your work cut out for you. However, if you take the time to plan your logistics well, you can enjoy multi-state living without experiencing a paper-thin bottom line.
Today, Daren Cullen shares a post that can help you make the most of two or more living arrangements.
A schedule is a must.
When you’re trying to run a business, your employees need to know where you are. For this reason, one of the first things you must do is establish a schedule of where you are, which is especially important if your homes are in different time zones.
Have a registered agent.
If your business is an LLC, you are likely your own registered agent. However, if you are not always in the same place, it can help to have a registered agent in each city. This is an individual who can participate in the decision-making process while you’re away. They’ll also be the one to get notified of any legal or tax action taken against you. Do your research before you appoint someone, as laws may be different from one home state to another.
Shop around for services.
While it might take some work off the cuff, you’ll also want to put some energy into shopping around for common services that will travel with you from state to state. This might include things like net-based television services or online counseling so that you do not have to pay different rates in different states.
Make big purchases that will move with you.
Some things that we think about being stationary, such as our security cameras, tools, and exercise equipment, may be better off purchased once and relocated as needed. Before you spend the money on health and safety products, read some reviews that were not written by the manufacturer or paid influencers. This way, you know that you’re getting a quality product that will last and can stand up to the demands of moving.
Common Costs You Might Run Into Owning Two Homes In Different Cities
While you may not incur all of the following costs, it’s good to know what you can expect for assorted expenses and states around the country.
There are many costs associated with owning a business and a home in multiple states. But, with a bit of planning, like choosing a registered agent, knowing the cost of storage and other expenses, and careful budgeting in the form of buying your healthcare in the cheapest state, you don’t have to worry about how your living arrangements will impact your business’s profits.
If you are thinking about relocating to Central Oregon, Daren Cullen wants to be your realtor. As a certified residential Specialist, Daren has the skills you need to help you find your new home, even if you’ll only be here part of the year.
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