When Should a beginner incorporate?

[Rob Gorham]

To LLC or to not LLC, that is the question..... Well at least for newbies. I've been doing a ton of research, like I am sure every beginner has, about real estate investing and one of the key decisions that has me hesitant to buy my first property is whether or not I need to incorporate an LLC first or buy a property in my own name. I know an LLC is absolutely necessary for asset protection, but beginners like myself, may not have any assets. Also would it be worth having a lawyer set up my LLC or should I do it myself? I've done some searching of lawyers in my area and have seen prices from $1,000-$5k just to set up a single LLC. I've seen strategies where the parent LLC is set up in Nevada and another LLC is used in state. This can get very pricey for a newbie, not to mention the cost of setting up trust. I am just wondering if thats an expense I should incur upfront or would I be putting the cart before the horse? That money could be used towards my first deal.