Building a Team - Need Business Formation Info

[Jay Williams]

Hey BP Fam,

I'm a newer BRRRR investor. Looking for recommendations/referrals for great professionals you know or have used. Looking to set up a basic LLC to hold properties as an out of state investor. In California looking to invest in Alabama. In addition to setting me up, I would like someone to walk me through timing, cost, maintenance, and any next steps. Appreciate your help!

[Valerie Post]

@Jay Williams

I would strongly suggest revisiting the benefits of an LLC, mostly for asset protection, but also an LLC is a business entity and there will be write-offs. I cannot stress asset protection enough! I would recommend Corporate Direct for additional information. They did an excellent job for me and provide ongoing support--I can call any time with additional questions for no additional charges. You might also want to surround yourself with a CPA who also invests in rental real estate (if yours doesn't already). I would highly recommend Justin Jensen with Morrison Clark & Company. Whoever you choose, interview them and make sure they have your best interests in mind. Don't ask a CPA for legal advice and don't ask a legal team for tax advice. :-)