Creating A Company
Greetings,
I am a young wannabe investor, one idea I would like to develop is to create a company to buy and sell property. (Really original I know) anyways the reason for the company is to have investors, basically share holders.
So my question to whom ever can help is. What are the stipulations for a company buying property? And were would be a good place to start creating a company?
Any input would help tremendously. Thank you!!
CbObBy
The first thing you need to do is decide why you want to create a company and not do this under your own name (Tax Return - Schedue E or C). If it is to get investor money or capital then I would recommend a LLP.
also get aware of state and fed secuirties and lender laws to see what you can and can't do.
See a sharp CPA and atty that both know real estate.
That's right, I forgot to include that. The public accounting firm I work for is involved with RE investors in Massachusetts and most of them are LLP's. But you need to discuss your specific circumstances to know for sure what is best