Brooklyn, NY · Member since 2014 · 4 posts · 2 votes
Hey BP
So I want to start real estate investing but am unsure of which, in any, business entity I should utilize at this point. I intend to buy between one and four properties that may or may not be in the current state I reside in; this is all contingent on the opportunities that present themselves or as I uncover them myself. With that said, what are the pro's and con's of each? Is there a definitive best one to use? Who/what do I need to contact in order to get my entity off the ground?
It's probably best to talk to an attorney that can give you proper advice.
One thing I've heard over and over, don't rush into forming an entity until you know what you're going to do. Each state is different and you'll need to do it where the property is located, so no point in forming something and then having it go to waste because you ended up in another state.
Most states that I've looked at can get an entity formed in a reasonable time, so find the property and then worry about that side of things.