Creating an LLC for multi family property

[Michael Williams]

Before I purchase my first commercial multi family property (5-12) units in Sacramento, Ca should I have an LLC already created for private investors and lenders? How would I add my current property with my future purchase? Would a lawyer help me through this process? Should I create an LLC after tax season? Should I already have a domain name chosen and purchased before creating an LLC? How important is creating an LLC when my portfolio increases?

[Richard Neuharth]

It sounds like a lot but it can all be accomplished pretty quick. You can start your LLC now if you'd like or just wait until you get it under contract. We have an LLC that we do business under and then each property gets it's own during the purchase process. A good lawyer can most certainly help you through the process. You will need an llc for bringing in investors but once again you can do that once you have the property under contract. The tax season thing I would talk with your cpa. I would say domain for sure because you would be surprised at what is already taken. I pay for a ton of domains and don't even use them. Your domain and LLC are completely different but if you want them to be named similarly then you should probably start now. Hope this helps.