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Updated almost 5 years ago on . Most recent reply
LLC question: when to create
BP Community,
I am living in New York and am still looking to get my first deal, which I plan to have out of state. I have a brief question in regards to setting up an LLC. Being that I would want to protect my first property under an LLC, should I be creating an LLC now? Even though I don't know when a first deal would be achieved.
Also what's the cost I could expect to set up an LLC?
Thank you and stay safe!
Most Popular Reply
Originally posted by @Alex Wasilchuk:
BP Community,
I am living in New York and am still looking to get my first deal, which I plan to have out of state. I have a brief question in regards to setting up an LLC. Being that I would want to protect my first property under an LLC, should I be creating an LLC now? Even though I don't know when a first deal would be achieved.
Also what's the cost I could expect to set up an LLC?
Thank you and stay safe!
You don't need to file for an LLC until you have a property under contract. You would purchase the property as your name and or assigns. Very common. No need to out cart before the horse.