What Enitity To Use For Real Estate.
I am at a crossroad...LLC or Corp.
I am ready but I'm checking for advice... I am into Lease Options and in a few years to do Flips...recommendations will be accepted.
Thanks
taipan57
I am at a crossroad...LLC or Corp.
I am ready but I'm checking for advice... I am into Lease Options and in a few years to do Flips...recommendations will be accepted.
Thanks
taipan57
I think it depends on what you want to use your company for.
For instance I use an LLC for protection against law suits. I do Lease options and put them into a trust first then put the trust into an LLC.
If it's for tax purposes then you may want a Corp. But I am not an expert, so hope others help you decide too.
good luck.
Linda
[addsig]
C-Corp, S-Corp, FLP. LLC, etc all have good points, and depending on your particular needs, any one of them could be right for you, or a part of the solution for you. This question is best answered by your accountant and your attorney, after you've discussed your situation with them. Until then, you need nothing if you have nothing. If you haven't tried your hand yet, or decided after a little experience in the field that you're a real estate investor, and will continue to be. Why go through the expense of setting up a business entity just so you can spend more time and money to kill it if you decide that it's not going to work?
Until you get to a point that you have something to protect, there's always insurance.
Jeff
Thanks!!
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