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Updated over 9 years ago, 08/18/2015

User Stats

34
Posts
13
Votes
Paulus Anglada
  • Investor
  • Mc Connells, SC
13
Votes |
34
Posts

Should I form an LLC for my rental that became a flip?

Paulus Anglada
  • Investor
  • Mc Connells, SC
Posted

I have 2 rental properties in Rock Hill, SC and bought a third one last month planning on keeping it as a rental. Turns out that I found out that I can make a $60K+ profit if I flip it. 

I bought in my personal name. Since I was only planning on forming an LLC after my 4th rental.

Should I go ahead and form 2 LLCs? One for the flipping business and one for the Rentals?

Can anybody recommend a good real state friendly CPA in the Charlotte, NC area?

Thanks,

Paulus

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