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Updated almost 8 years ago on . Most recent reply

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73
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Danny Ondik
  • Investor
  • Chicago Suburbs
17
Votes |
73
Posts

Corporation before my first property?

Danny Ondik
  • Investor
  • Chicago Suburbs
Posted

After reading "Rich Dad Poor Dad," I have learned more about why corporation will help someone protect their money from taxes when owning a business. If I am planning on owning multiple properties in the future, is it in my best interest to start a corporation before I buy my first property or something I should invest in after multiple properties?

Thank you for any help and advice!

Most Popular Reply

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1,293
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1,314
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Josh C.
  • Property Manager
  • Indianapolis, IN
1,314
Votes |
1,293
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Josh C.
  • Property Manager
  • Indianapolis, IN
Replied

Most if not all of your income from rentals will be expensed and depreciated so don't worry about that. You can always quit claim deed properties from entity to entity so don't worry about that. Then there's liability and protection.....

Already 1000 threads on that so check them out.

But I didn't and it worked out just fine.

Good luck!

  • Josh C.
  • Loading replies...