Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

7
Posts
1
Votes
Michael Bickel
  • Investor
  • chesterton, IN
1
Votes |
7
Posts

Forming an LLC

Michael Bickel
  • Investor
  • chesterton, IN
Posted

Hello,

I am new to REI, just purchased my first house last year (Owner-occupant). Originally, the goal was to rehab, then sell after 2 years with no capital gains tax. However, after diving in and gaining more knowledge of RE and developing my future goals pertaining to REI, I believe I will be renting it out or doing a lease option instead. This is just background info on where I am at.

My goal is to continue accumulating multi-family rental properties, and eventually get into apartment complexes, and down the line potentially commercial RE. Currently, I only own my house, no other properties. I know that I want to form an LLC for when I start purchasing, which I'd like to do this year if I gain enough understanding of creative financing options, since I have low money down. This is my question: I may buy a property this year, I may not. Either way, I am wondering, should I form my LLC right now, and can I even form it right now with no properties (not including my current home)? Furthermore, I am in Indiana, & I know Delaware is the best state to incorporate in from a general business standpoint. Is it recommended to incorporate a real estate LLC in Delaware as well, or incorporate in another state that is good for real estate LLC's, or incorporate in the state where the business is taking place (Indiana in this case)?

I am greatly appreciative of any advice or insight! Thank you!

Michael

Loading replies...