Meeting with attorney, what questions should I ask?

Question

Account Closed · Answer

@Chris T. @Michael P. @Charlie John so i met with the attorney about general questions concerning establishing myself as an LLC and 90% of the advice he had to offer I had already read in Garret Sutton's book "start your own corporation," which i heard about in a BP podcast.  Strongly recommend for any investor, new or seasoned.

Charlie John · Answer

Account Closed if you have a real purchase agreement for a deal then bring that to the meeting and you will have plenty to talk about. You learn as you go in this business. The attorney will teach you exactly what you need to Know throughout the process. Planning to buy flips throughout the year will be different legal/tax advice than buying rentals.  If you are flipping it may make more sense to create an s-corp vs Llc so you could ask about that. Good luck!

Chris T. · Answer

Account Closed

YOU need to ask yourself WHY you need a LLC in the first place, what your investing strategy is and how he/she can help you.

Is it asset protection?

Is it tax purposes?

When Does Setting Up an Entity for Your Investments Make Sense?

Should You Get an LLC For Your Real Estate Business?

Accounting Practices for LLCs: What Every Real Estate Investor Should Know

Account Closed · Answer

and thank you all for the input

Michael P. · Answer

@Chris T.LLC just for protection I presume, but asset protection and tax benefits can be gained by having the property under your name.  Liability get umbrella.