Creating an LLC/ First deal

[Stephen Milhoan Jr]

I am currently in dental school in Cleveland with the goal of getting my first deal this summer while on break. I am looking to get a duplex or triplex in the Cleveland area. I was wondering if I should set up a holding company/LLC prior to doing my first deal and if so what do you guys recommend I use to do so.

Thanks!!

[Randy Rodenhouse]

In dental school in Cleveland...I went to Case Western back in the day to get my PhD. Anyway, I would setup a simple LLC as disregarded entity so it will flow through to your own tax returns and later when you get more income you can convert it to a S-corp for tax purposes (pay less self employment tax, etc). Don't overdue the asset protection until you have assets to protect.