Is a LLC needed for Wholesaling?
No, unless your keeping the homes for yourself, then you may want to consider it.
Disclaimer: Always seek legal advice from your attorney :cool
Lamar is correct but there is something else. You may want to put a property under a Pocket LLC to sell it. Herbster
do you plan to get an LLC for every deal you have??? IT A WASTE OF TIME!!! and MONEY!!!
Red, you get an LLC for your own liabilities and LLC’s you get a property under and sell the LLC. Herbster
Red, you were right the first time.
Hahahahaha…Give me a break…HAHAHA…I’m just 16 and just from a 3rd world country…yahaha…(Philippines)
Right on, it seems I recognize that term from somewhere…lol
Like herb so eloquently put it, I would recommend setting up several pocket llc’s in advance then if a great deal comes along and you want to put it into an llc and sell the llc rather than doing a double closing or assigning you will have that option.
If you holding property then put each property into it’s own llc, so as not to risk your entire portfolio if a legal discrepency should arise.