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Updated over 5 years ago on . Most recent reply

Spencer William Quesenberry's profile image
Spencer William Quesenberry's profile image
Spencer William Quesenberry
  • Lender
  • from Louisville, KY
  • Member since Apr 20, 2019
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Spencer William Quesenberry's profile image
Spencer William Quesenberry's profile image
Spencer William Quesenberry
  • Lender
  • from Louisville, KY
  • Member since Apr 20, 2019
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Spencer William Quesenberry
  • Lender
  • Louisville, KY
8
Votes |
19
Posts
Wholesaling

LLC before first deal?

Spencer William Quesenberry
  • Lender
  • Louisville, KY
Posted

Hey BP I was wondering if it was smart to form an LLC before attempting your first deal to give you legal protection?

Any advice is greatly appreciated!

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Trevor Scheiderer's profile image
Trevor Scheiderer's profile image
Trevor Scheiderer
  • Rental Property Investor
  • from New York, NY
  • Member since Jun 5, 2019
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Trevor Scheiderer's profile image
Trevor Scheiderer's profile image
Trevor Scheiderer
  • Rental Property Investor
  • from New York, NY
  • Member since Jun 5, 2019
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Trevor Scheiderer
  • Rental Property Investor
  • New York, NY
24
Votes |
58
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Trevor Scheiderer
  • Rental Property Investor
  • New York, NY
Replied

Hey Spencer! As far as investing in your first deal, many of the previous BP podcast episodes say that this depends on your specific situation. If you plan on getting something with 4 units or less, you may not need it. In the end, it comes down to whatever advice you decide to take from your lawyer. However, an LLC is definitely not an absolute requirement to get into real estate. Happy investing!

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