Wait to get a LLC?

[Adrian Rice]

Is it a bad idea to wholesale without a LLC ? Or should I wait and form my LLC?

[Haim Mamane Palman]

Quick disclaimer, I'm not a lawyer so this is just a personal opinion of another investor/wholesaler.

LLC has it's advantages such as asset protection and tax benefits and disadvantages such as cost ($800 in CA where I live) and following all the required protocols, docs associated with it. @AliBoone wrote a nice piece about it few weeks ago. you should check it out.

There is a common belief that LLC is a good entity for passive investments and corporation entity for active investment strategies such as wholesaling and rehabbing. There is a ton of information on this blog on this topic.

As a beginner, I recommend just to get started, take massive actions and get few deals under your belt. Then you can do more research and decide which entity best fits your needs.

Knowledge+massive actions = Success

Good luck