LLC first?

[Mike H]

Ok, as a beginning wholesaler getting my ducks in a row, would it behoove me to get an LLC first before I start doing business or would it be fine to do some deals first and get an LLC eventually?

Pros/cons?

Thanks in advance!

[Nick J.]

Mike, I'm sure someone else will come on and confirm this, but I believe you are taxed the same sole prop. vs. single member LLC.

Consider forming an S-corp or have your LLC taxed as an S-corp.

other than that, it's really only @SSet protection.............I would go as far as say if you cannot afford to get your ducks in a row, do a deal and take that money and get in touch with a CPA that specializes in Real estate, preferably one that owns the commercial building his office is in, and who rents out the other suites so you know he not only knows real estate but is involved himself

I hope that helps