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Updated almost 7 years ago,
Beginning House Flipping LLC/SP
Good Morning,
My name is Zachary Cuneo. I currently live about an hour north of Seattle and I wanted to start a house flip project. However, I will be moving to California this Summer, no later than July. My question comes in three parts:
My first one is a general question: Since I will be doing this by myself, should I get an LLC or Sole Proprietorship started before I buy and purchase it with the business name? If so, how would I go about getting that started and how long does this process take? I do want to get started as soon as I can due to my limited time frame.
My second question is more specific: If I were to get an LLC or SP started, would I be able to use it when I move to California to continue flipping houses under that business? Would it have to be moved to California or could it remain as a Washington LLC/SP? There's a chance that I will come back to Washington in 2020 since I'm just going to California for school, but that's not a for sure thing.
If it's not able to be moved or operated from while I'm in California, is it worth getting it started up here at all? Should I even bother getting my first project started and just wait until I move to California to get started?
Any advice you guys can provide would be greatly appreciated. Thank you.