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Updated about 8 years ago on . Most recent reply

Edgar Figueroa's profile image
Edgar Figueroa's profile image
Edgar Figueroa
  • from San Mateo, California
  • Member since Dec 18, 2016
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Edgar Figueroa's profile image
Edgar Figueroa's profile image
Edgar Figueroa
  • from San Mateo, California
  • Member since Dec 18, 2016
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Edgar Figueroa
  • San Mateo, CA
1
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Starting Out

What is an LLC and is it needed

Edgar Figueroa
  • San Mateo, CA
Posted
Can some one explain to me what an LLC is? And is it needed?
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Nathan Waters's profile image
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Nathan Waters
  • Rental Property Investor
  • from St Joseph, MI
  • Member since Jun 11, 2015
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Nathan Waters
  • Rental Property Investor
  • from St Joseph, MI
  • Member since Jun 11, 2015
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Nathan Waters
  • Rental Property Investor
  • St Joseph, MI
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Nathan Waters
  • Rental Property Investor
  • St Joseph, MI
Replied

@Edgar Figueroa

Its a limited liability corporation. Its not needed to get started and you shouldn't let it hinder you from starting. Once you have a few properties, its worth consulting with your attorney and tax advisor to see if its worth establishing one. I didn't have one initially but now I am moving everything into my LLC. It has some benefits to protect your personal assets. I would listen to some of the podcasts that have more in depth discussion or do some searches on here. This topic has been discussed in pretty great detail.

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