Form LLC before purchase?

[Jeremy S.]

Hello everyone, I'm a long time reader of these forums and I'm ready to make my first investment. My fiancée and I are looking to purchase 2 4-plexs in the same neighborhood from the same seller. We will a living in one of the 2 bedroom units. The combined price leaves us with next to nothing left after a 20% down payment and closing costs.

My question is mostly about when is the proper time to form our llc? We will need both of our credit and assists to be able to finance the properties. How long will that process take? Does it need to be done before we close or before we even make an offer?

I'm going to speak with a lawyer this afternoon but wanted to see what the BP community had to say on the topic. Thanks in advance for your advice.

PS. We are in pennsylvania