Any advice for formation of an LLC ?

[Karla Talancon]

Hey guys, I am new to bigger pockets. And also kind of new to real estate investing. I am partnering with my father to create an LLC for real estate investing. Is anyone else doing the same ? What tips do you guys have about structuring? Taxes? Capital contributions? What states are you guys working in ? What to look out for ? Pros and cons? Anything helps!

[Matt Moldenhauer]

I would speak to an attorney that does real estate law and if you can find one that has rental properties, even better. The more I researched it, that's the conclusion I came to. If it's not done right, they are pretty much worthless. Unless your only concern is to have a check made out to "Kick Butt LLC" vs "Karla Talancon" lol

Research: Piercing the corporate veil, self managed, LLC vs umbrella, commingling funds, etc.

One of the best things I've read is, "An LLC won't protect you from yourself."

Good luck!