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REI And LLC

InActive_Account profile photo
  • Tuesday, August 03, 2004 @ 02:06 PM EDT
  • 2 Comments

Hi,

I am a beginner investor. Is it highly recommended before starting to apply for LLC so your credit will not be a risk.

Please advise on pro and con.

--James grin

Comments(2)

  • Stockpro99
    Stockpro992nd August, 2004

    You will also start your entity out with "no credit" and will have to sign personally on your loans if you make any.
    An LLC is great for holding property where you take out only passive income. For active earned income you would do better with an "S" corp for the self employment tax savings.
    You can go to my profile and I believe there is an article I wrote some time ago that briefly covers this.
    [addsig]

  • no photo
    InActive_Account3rd August, 2004

    Nice to meet you Stockpro99.

    Thanks for your info and I will check out your articles.

    --James grin

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