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Updated over 4 years ago on . Most recent reply

User Stats

59
Posts
37
Votes
Daron Williams
  • New to Real Estate
  • Jasper texas
37
Votes |
59
Posts

Do i need an EIN just starting out

Daron Williams
  • New to Real Estate
  • Jasper texas
Posted

So for the last 3 months i have been Investing in buying tax resale (stuck off) and wholesaling in texas.. i have purchased 2 lots that i have listed on the MLS and now i have my secoñd contract to go in escrow with buyers.. i have started a Do Business As with the county as a real estate investing and plan to make it an LLC. i talked to the lady that done my taxes last year and she has agreed to help me with that taxes side of Investing.. she told me that I need to have an EIN with the IRS and also track my milage.. also working deals with several landlords with 20+ units many 4 and 5 unit properties. I am so blessed to have found biggerpocket's and have learned as much as i have. I haven't made any met yet from either wholesaling or with the lots but i receipts for everything including my equipment for clearing land.. do i need a EIN this early.. im still working on getting a bank account for my business..

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