How do you apply for a "Flippable" LLC vs a Main LLC ?

[Avery Kelly]

I'm new to Real Estate and Wholesaling and have a question about obtaining LLC's in the state of Georgia.

How do you obtain a "Main" LLC from the state that has an associated business bank account vs. a "Flippable" LLC used for double closing a Wholesale deal?

[Will Barnard]

There is no difference between a "flippable LLC" and a "Main LLC". I suspect you are looking to wholesale legally (not brokering without a license) and want to know the process of forming the LLC which you name your buyer/partner as part owner, then transfer your ownership % to them at closing for your "wholesale fee". If that is the case, you don't need to double close the transaction, you simply have one closing saving costs which could apply towards your entity set up fees.

Simply form an entity with any entity preparation service provider (or do it yourself), have the operating agreement made up and you are ready to use it to "wholesale". Simply add the name of your buyer partner to the entity as you make the offer and vest the offer in the name of the new entity. During escrow, draft agreement that sells your shares/ownership % to the "partner" for your designed profit and at close of escrow, they own the entity 100% which holds the property title and you hold the cash for selling your portion.