New Investor - Opening a business / LLC

[Yash Bhatt]

Hello all,

If I am just getting started in investing, and am planning on picking up a few properties this year and then scaling, I wanted to know your thoughts about opening a business.

Is it recommended to open an LLC and then put the properties in the portfolio in there? Or can I just buy them all in my name and still take advantage of all the favorable business tax benefits/write-offs?

I don't see this come up too often in the getting started videos so i was curious. What do you need to do before making your first few purchases as far as setting up a business and taxing full advantage of the business tax laws. 

Thanks!

[David Sisson]

Main thing-get a separate bank account and track your expenses and income just like any other business. I use quick books and my accountant likes that.