I found a multifamily
They just asked me what business name I want the paperwork under.
Should I form an LLC and or just use our names and than transfer it later? I have very little money and would like to do what is best but I need to get back to him asap.
I think I will just put it in our names for now until we learn more.
Thank you
Jessica
Use your own name and forget about the LLC until you accumulate real wealth.
Use “Jessica Levesque and/or nominees”
This gives you the flexibility at settlement to take title in your own name, your LLC, or your trust.
I usually end up taking title in my own name, but my estate planning attorney is telling me that I should at a minimum take title in a trust to avoid probate issues.
I agree - put it into your own name until you are worth more. Just buy enough liability coverage to protect you!
Tom
Is this a 4-plex or a 556-plex?
“multifamily” is pretty ambigious, and I think the answer depends on exactly how big the project is.