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Updated over 7 years ago on . Most recent reply

User Stats

128
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13
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Eve Oliver
  • Realtor
  • Yukon, OK
13
Votes |
128
Posts

LLC first step to create them

Eve Oliver
  • Realtor
  • Yukon, OK
Posted

Hello, I just bought my first SFH a month ago and I am researching in how to open an LLC. Are people do this all by themselves (online) using LegalZoom or Accountant? I am a bit confused. What should be my first step to make sure I am on the right track. Any advise would be greatly appreciated

Most Popular Reply

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5,689
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3,431
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Chris Martin
  • Investor
  • Willow Spring, NC
3,431
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5,689
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Chris Martin
  • Investor
  • Willow Spring, NC
Replied

I'll be real blunt. If you are having issues with the mechanical aspect of filing to create an LLC, then I have to wonder what your Operating Agreement looks like. And if you don't have one, then I question what you are doing creating an LLC. Did you buy the property in the LLC before you created the entity? Or is the property currently deeded in your name? Are you taking on partners via new membership (hence the need for an LLC)? Are you just putting the property there because you like to file more IRS paperwork?

Unless you can answer 'The LLC provides me X benefit, that's why I acquire property in the LLC...' where 'X' is a real, tangible benefit... I really question why people use single member LLCs.

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