What type of business entity for wholesaling?

[Rodrigo Viei]

What type? I know most experienced wholesalers in this board use LLC, but for a newbie like me that is just starting, is an LLC that important? A wholesaler that does very good in the business told me a DBA will do for now, but I would like to know what type of business entity did you have set up when you started wholesaling? Thanks!

[Dante Nava]

Garrett Sutton, of Rich Dad Poor Dad fame, has some books on different types of corporate entities and their benefits. I read one of the older ones a few years ago and am now looking at applying some of that info. I personally will be waiting until after I've got a deal or two under my belt in order to fund the legal and accounting aspect of what I'm doing. I realize it's not the smartest thing to be doing, but I'd rather do that than spend a hundred bucks or so on legal zoom, then find out it was pretty useless or wrong and have to spend more money to make changes. I'll pay the stupid tax (and self employment tax) for a bit if I'm making money.