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hey guys clint coons here and in this video were going to talk about some of the top single member limited liability company mistakes that investors make when theyre setting up their llc all right so lets just start right from the top about setting up a limited liability company where you can go totally wrong with creating your llc now the first thing you should realize is where are you going to set up this llc well that really depends on where youre going to be investing or where youre running your business so the first mistake that i see people make when it comes to setting up an llc is they set it up either in their home state or they set up in nevada or wyoming and they dont plan to do business in either of those states and so then they run into problems down the road so when youre considering where to file your first limited liability company if its going to be conducting business or owning real estate it needs to be set up in the state where the asset is located all right