Why do i need an LLC?

[Jeffrey Mathurin]

As a wholesale real estate investor, what are the benefits of having an LLC, if all i would be doing is collecting assignement fees? Also, what are the risks of not using an LLC as solely a wholesale real estate investor? thanks in advanced.

[Ned Carey]

You don't "Need" one. However an LLC can limit your liability. In today's litigious society limiting you liability is a good thing. In your situation, as a wholesaler, there may be less need for it.

Court cases have been limiting liability protection of LLCs. I believe in FL, a court case recently shot down protection in a single member LLCs. You are always responsible for your own actions even if you are doing the work for an LLC. So the benefit may not be as great as one might think.

Search back posts, you will find many threads on this issue.