Newbie Investor and Forming LLC

[Edwin Wealth]

Hello Investors, 

I am considering forming my LLC to begin Fixing and Flipping homes in the New Jersey area as soon as February, March of 2024. I am currently employed full time and I've yet to complete one flip however, I want to get my systems in order as I am committed to developing a strong business within a few years. I am currently paying for classes and systems and although, I've yet to complete one deal, what are your thoughts on setting up my LLC now vs at the beginning of the year? Is there any reasons besides taxes that I should avoid opening it at this stage? Also, is there a benefits to setting it up as an S-corp as a flipper? My plan is to increase the overall income with fixing and flipping and later down the line focus on rentals? Any thoughts and or suggestions?

Thank you, 
Edwin 

[Joseph Guzzardi Jr]

@Edwin Wealth I came across a point being made on a real estate podcast earlier this week Take Massive Action to generate revenue, then put systems in place after. If you don't have revenue or deals, how do you know your systems will work? My suggestion is put aside all the other things, get out there, find some deals, or find people who can bring you deals.