How Soon Is LLC In My Future?
For benefits and protection purposes I plan on becoming LLC. I would like to know how soon should I do this. (I haven't done anything yet, just study.) After 'X' amount of properties , do I then become known as a Dealer? Or should I become LLC before I do any investing?
Thanks! 
LLC when you feel like it...remember one this it is an entity... the sooner you start it the sooner it is established....
Every property I own is in an LLC except my private residence. I use a separate LLC for each business. Set it up before you need it so you can act quickly. Your state may allow setting it up on line ( Florida does)
[addsig]
What type of investing are you planning on doing?
LLC is fine for your long term rental properties. If you are planning to flip, a corporate entity may be better for you.
Quote:After 'X' amount of properties , do I then become known as a Dealer?Yes, X = 1. You are a dealer when (not after) you do your first flip.
Thank you This brings up another question I have. I plan on doing a great number of things. I'll list them in the order I hope to accomplish- Provide seller financing (or L/O) Mobil homes, Flip, start a auto car wash, rental properties, and in the distant future, use my equity to open a business hotel utilizing a franchise.
My next question is, can both my husband and I (or just myself... which ever the law allows) do this ALL under the umbrella of an LLC?
My husband is military and we move around a lot , so I realize it will be something to stay on top of with regards to an LLC because of different state laws and such.
Thank you very much
Look through the article section of this webstie for some good details on the differences between different business entities. Here is a link to one, in particular:
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&sid=368