Before getting into short sale should one form an LLC?
My thought is wait till I do a couple of deals before I form an LLC. What do you think?
Joseph
I have a friend that waited until they got their first deal, then formed the LLC with some of the profits. I think it’s a matter of how much risk you want to take. If you want the liability protection from the absolute get go, do it now. If you think you can do your first deal under your own name and then immediately form your LLC and do your business under that from then on out, do that. It’s going to cost a couple hundred dollars to form.
here in indiana it cost 90.00
The cost here in Texas is $200 filling fee…When deciding to set up my LLC…i decided to do it before i ever had my first investment deal…reason for this is that I absolutly don’t want my investments to rest soley on my personal income or credit and I also wanted the advantage of receiving credit card offers in the mail with my LLC name on them so when I need that extra money to rehab, close, hold or what ever I had the means to and it would all be in the name of my LLC…this is just what I plane to do and how I will use my LLC from the start…