Do l have to establish a corporate identity, get an LLC before I even do my first project?

[Elizabeth Atkinson]

Before I found this site I went to one of those 3 day workshops run by an investing guru. I was told by a so called mentor that I shouldn't even start doing deals at all until I got an LLC setup. Of course he would help me do that for a very high fee $1500. So is it true I need to setup an LLC before I start doing deals? Since I found this site I've realized bigger pockets offers pretty much the same thing and more for free. So glad I found this site.

[Joe Bertolino]

You were not talking to a RE guru, you were talking to somebody trying to sell you a LLC that was marked up 1000%.

I sell insurance and have over 2700 investor clients with portfolios ranging from one rental house to apartment schedules approaching $500M. Most small investors operate under their own name because lenders are easier to deal with that way. A umbrella policy for $200-300 protects you. At a certain point you will grow and an LLC or multiple LLC's make sense but this person is trying to take your money. Run away.