Buying Property (Starting Out)

[Deondre Nabriet]

Hello again BiggerPockets fam! To end off a nice weekend, the fellas (also the two people I’m going into this business with) and I cracked a couple of cigars and did our brainstorming for the mobile home flipping venture we’re getting into to raise capital (in the beginning) for the main project that I’ve been raving about.

One of the key subjects we spoke about was what kind of legal entity should we have our business as. We all agreed on an LLC but according to what I've been researching from different sources on here, it seems that it's not the most practical in this lane. Am I interpreting this correctly?

Definitely need sound, professional advice on this one.

Talk soon,

Deondre 

[Steven Foster Wilson]

@Deondre Nabriet LLC is the most simple way for tax purposes to purchases houses, its fairly easy to split ownership as well. It would be worth your money to sit down with a tax professional and an attorney t iron out details.

Remember start with the end in mind.