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Updated about 7 years ago,

User Stats

111
Posts
38
Votes
Ryan Johnston
  • Flipper/Rehabber
  • Tampa, FL
38
Votes |
111
Posts

Start an LLC before putting in offers? Can you change it later

Ryan Johnston
  • Flipper/Rehabber
  • Tampa, FL
Posted

I'm currently placing an offer on a house to flip and I planned to set up a LLC in the future even though I currently have no assets. I figured that it's just good practice to have that layer of protection as well as the tax benefits of S-corp filing.

My question to you is when should I set up this LLC? Do I need to include the LLC in the offer letter I'm submitting or would just putting my name down work? Time is of the essence right now and I need to get this offer in very soon.

If I do need a LLC now, can I put the offer in with my name to get the deal in motion and then once we get to the closing table, put it under the LLC name? I haven't closed on a deal yet so I'm trying to figure this all out as I go. I'm working in Indiana if that matters.

Thanks BP Community!

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