Is it necessary to start a business entity immediately when wholesaling?

I’m just wondering what other wholesalers have did to get their business up and running. I’m a newbie to the game, and I want to get my ducks in a row before I put my feet in the water. Should I approach this business setting up a LLC first with business cards and what not, or should I just start with my name and gmail account…a little less professional. Any feedback would help…

Thanks,
Sierra

I’m not a wholesale investor, but I don’t think there’s really anything to protect liaibility-wise when wholesaling. I would check into just filing for a doing business as (DBA) name if you want a business name. It will be a lot cheaper and less work than starting an LLC…not that LLCs are really that difficult either.

I started an LLC because I want to be able to get business credit in my business name only. I am looking for business credit so I won’t have to use my own cash to expand my marketing. Also, as I learn more about other RE strategies, it is good to have business credit available in case I want to try something else.

Like I am thinking: what if I get a property needing only light rehab with seller financing? If I had the business credit available to cover the repairs, it would make a great first flip. Anyway, that is why I got an LLC.

Depends on what you’re looking to do. If you’re like Kelle, then yes. But, if you’re like most wholesalers starting out, then no. I, personally, did not start a business till I had a few flips under my belt and decided this was something I was going to pursue as a career. If you start up an LLC now, and then get frustrated in 3 months and quit, then you’re out a few hundred bucks for nothing.

But, it’s your call.

@ Sierra: Why do you think you need an LLC?