Which type of company to setup

[Nidhi Singh]

Hi, We are just starting out in this business. Starting with a friend who is a real estate agent. The plan is to start with flipping houses and then move on to rental properties. 

My question here is what kind of company should we establish for this business... an LLC or Limited partnership or corporation?

[Ken Breeze]

Check out  LegalZoom for starters. But set up three LLC if you're getting serious: one for the flipping, one for the buy & holding and one for the managing and operating. This way if anyone wants to "grab you by the neck", you personally and the other two entities are safe.

You can always get fancier when you get your first income to pay an investor savvy attorney and CPA to help you strategize where to take your business from here.

To get more answers on these strategies always search Bigger Pockets or the net to deepen your education. Check out:

10 Steps to Setting up a Limited Liability Company

6 Mistakes to Avoid When Setting Up Your Corporation or LLC

How to Set Up an LLC in California

Good luck!