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Post by Chi77 on Jun 19, 2012 23:19:26 GMT -8
Uncle Tony,
Do you recommend new investors forming a company like an LLC before starting out in real estate or to do that later when the new investor has hopefully acquired property under their name and become a bit seasoned?
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Post by Tony Alvarez on Jun 22, 2012 8:45:29 GMT -8
First of all I never "recommend" anything, I merely suggest. ;-)
Now, the question of whether or not to create a separate legal entity, and which type of entity to create if you do, before beginning your real estate investing career, is very personal; there are pros and cons to each choice.
This is something that should be discussed with your attorney and or CPA.
The reason for this is- how you decide to take and hold title to real estate when buying, holding or selling may affect your tax situation, liability and or asset protection.
Once you have addressed these issues the question of whether you should incur the cost of creating a separate legal entity before you even have your first deal locked up hopefully will be more clear to you.
The question you really need to answer is – In your opinion, do you really need one and why?
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Post by aerahugayono on May 19, 2019 23:56:43 GMT -8
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Post by uilfixoq on May 20, 2019 1:50:06 GMT -8
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