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Updated over 3 years ago on . Most recent reply

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LaMiracle Schaefer
  • Realtor
  • Texas
4
Votes |
18
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Is starting an LLC in the beginning stages of investing ideal?

LaMiracle Schaefer
  • Realtor
  • Texas
Posted

Hello BP Community! 

I'm looking for some guidance on whether or not starting an LLC for your real estate investment assets is a great move when you're just starting out? Is it worth the hassle or is this step something that most would recommend could be delayed? I am leaning more towards starting one from the beginning so that I am not back tracking later but there seems to be many steps I do not understand. Can anyone recommend an LLC service used to help file?

Thank you in advance. 

Most Popular Reply

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Brandon Rush
  • Real Estate Agent
  • Portland, CT
832
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748
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Brandon Rush
  • Real Estate Agent
  • Portland, CT
Replied

Hey LaMiracle,

An LLC is not required in order to get started on your real estate journey. Purchasing your first property or two or three in your personal name is no big deal. In order to get the best financing, you may have to purchase the properties in your name. There may be opportunities that may be best suited for an LLC such as a partnership with someone on a deal.

Also, I am not sure how you do it in TX, but creating an LLC is not really a hassle. In CT it takes literally 2-3 days to get one established and all that is required is going to the state's website and filling out an online form. There are some follow up steps such as stating your business's physical location and register agent's address (if applicable).

My recommendation, sure go ahead and create one and keep it in your back pocket. Worst case scenario you don't use and and you do not renew it. 

Good luck on your journey!

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