Thread: LLC for beginning investing?

Hey guys quick question.

Before I start out investing in some real estate I wanted to know how to go about it from an asset protection/liability standpoint. Is the LLC the best way to go on purchasing cashflow properties to buy and hold on to for a while? I will of course have my success team built first including an attorney and tax accountant, before I go about any of this, but wanted your opinions or experiences in regards to this!

Thanks

All depends on what your buying? Individual homes or 4-Plexes, Apartments, etc. At the end of the day if a home or an apartment catches fire and kill someone due to your negligence your gonna be hard pressed to escape a lawsuit.

Well I will be looking into 4-Plexes/Apartments and have read about how you should not invest without first having a "company". That way if someone was to try to sue you for something silly, or anything at all that they would not be able to go after your personal car, house, bank account etc.

When in doubt structure in an LLC - i've seen little benefits to any other form of legal entity.

Check out Incorporate Online, LLC Formation, Incorporation Services | MyNewCompany.com

It costs like 200 bucks to set it up (and their website explains the advantages of the different types of formations).

I've used them twice before for my own LLC's and haven't found a better, lower cost solution anywhere.

Highly recommended.

Matt- Thanks for the tip! I will check it out right now.

WOW! Great site, I had previously been looking at legalzoom.com and the site you directed me to is WAY better/cheaper. Thanks again!