Best time to Start an LLC

[Michael Wnek]

My Wife and I are looking to move into our first House Hack soon. I have a general question as when is the best time to start an LLC. We will also be managing a family property and looking to grow our portoflio over the next decade.

Curious as to peoples thoughts on when the right time to set something up will be.

Also interested in how an LLC can shelter us from taxes in other investments.

Thank you

[Chris Seveney]

Michael Wnek - I would say to open an LLC when you need one, I would not open one just to open one. Once you create it then you should have separate bank accounts and do. It commingle funds. In most states the paperwork is pretty straightforward and are done same day.

Please note I am not an attorney or CPA.