Forming an LLC for individual

[Mark Leclair]

Hey guys so I got a quote to form my LLC for real estate at 400-500 from an attorney. Of course just starting out we are all trying to cut some costs and save money for the business. Do you think I should do that or should I do the LLC myself and then send the request for the EIN after I for the LLC?

Any thoughts or opinions are welcome, what did you do starting out?

[Daniel Hyman]

That's a typical fee for LLC formation. That being said, you can operate a business without an LLC. And keep in mind that finding a lender to loan to a new LLC is a bit more challenging than in your personal name.

The LLC could be advantageous as it relates to your asset protection and tax strategy. It really should be discussed with your attorney and CPA.