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Updated over 16 years ago on . Most recent reply

User Stats

120
Posts
7
Votes
Sean Gallagher
  • Real Estate Investor
  • Millsboro, DE
7
Votes |
120
Posts

Running an LLC

Sean Gallagher
  • Real Estate Investor
  • Millsboro, DE
Posted

I formed an LLC a little while ago since i was looking to get a commercial loan and wanted to keep everything within the business. I soon found out that I need atleast 20-30 % down to get a commercial loan... So i've just been saving and saving. Should I go ahead and open an account for the business? I'm a little confused as to what steps i take next to get started. I have done my research on the big picture.. such as what will net me positive cash flow, screening tenants, contracts, landlord/tenant codes.. Just the bits in between. Also.. filing my taxes for this LLC.. I haven't had any money coming or going except the fees to form the LLC, maybe some gas to check out a few properties.. I guess thats an expense for the business? My mother always took care of my taxes, that's why im confused. Its a delaware LLC. Thanks for giving up your time to help.

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