Forming a California Based LLC (Simple Question)

[Ray Eason]

Hello and good day.

I am in the process of getting some properties under contract and wholesale/quickturning those properties to my cash buyers and need to setup a California based LLC.

I am using Legalzoom. There is a question on the form that I am not sure how to answer.

It wants to know "Which of the following best describes your real estate business?"

The option i initially selected was "Selling property for others".

But as a wholesaler, I am not selling the property, I am selling the contact to my cash buyers. There is an option to select "OTHER". If I select OTHER what should I enter here?

Or does it matter and I can simply say I am "Selling property for others".

Any input or feedback would be appreciated.

FYI: I am picking the Gold Express package because it comes with the FREE PR Service to help promote my business. Plus it has some other benefits.

Thanks!

[Account Closed]

I would stay away from words like "... for others", that implies brokerage activities.

Also, if you haven't already, you should talk with your CPA regarding best entity for this, a LLC taxed as a S Corp or and S Corp might be better from a tax perspective.