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Updated about 4 years ago on .

User Stats

10
Posts
2
Votes
Melvin M.
  • Investor
  • Scranton, PA
2
Votes |
10
Posts

creating a legal entity for wholesaling in PA

Melvin M.
  • Investor
  • Scranton, PA
Posted

my partner and I are going in on wholesaling properties for a while to master that then move on to fix n flip and buy n hold when the time is right. I have an EIN with the IRS for an unregistered LLC in the state of Pennsylvania. I contacted legal zoom today about what they offer as far as services go with registering my LLC, creating an operating agreement. What I am ultimately wondering is, what way would you recommend I go about legally starting my LLC & wholesaling career? We have rough copies of seller/buyer contracts we intend to get over to an attorney (once we decide which one we want to work with). We plan to write up a business plan with an exit strategy for the partnership in case things go sour. What I'm wondering is, can I do all the legal registering, do I need any "permits" with the state? Can I just pay the attorney per service on reviewing our wholesale contracts for now, since that's what we'll be focusing our efforts on? I have some mentors I talk to on a weekly basis, but since finding B.P. I feel like this is a great opportunity to hear from you all & what you'd recommend. THANK YOU!!!