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Updated over 7 years ago,
Get a LLC or NOT? And What do you pay for help.
My question might be simple. I listened to one of the podcasts and it just made sense, it was the one about getting your finances in order before you take the leap. So I have side stepped for quite a while so I can get my house hold under control to witch I am doing so as we speak. I have started a small business on the side to help get extra cash and get ahead faster.
1. So should I put the business in a LLC and get insurance and all that jazz so I am legal and worry less or should I just get paid on the down low to keep the costs at a minimum?
2. Now my second question is I did some work on the side for a broker. About 14 hours worth of work or more, and he told me multiple times that he did not know how much to pay me. And I know is BS because he has been doing this for years so I just took that as he was testing me to see if I was going to start throwing out random numbers. So I wrote all the things down I did the hours I worked and turned it over to him for $500. He comes back and says are you crazy. So I told him to put down what he thinks is fair and we can go from there. Now he is planning on teaching me how to flip houses and so forth but I'm not sure about him now. So my question is this did I ask for too much and should I walk away from him since he flipped out.
Mowing: Front and Back 4hrs includes weeding and trash pick up, Pulled weeds
Removed Carpet, Padding and tac strips
Removed tree.
So all and all 14 hours to do all spread out over a week. What do you pay to have work done on your properties?