All Forum Posts by: Dean Mitchell

@Jon Reed

Thanks a lot for the reply. I completely understand where you are coming from. I will certainly keep that in mind, as well as share it amongst the group.

Greetings BiggerPockets 🌎,

I am a newer investor in real estate and I am currently working on obtaining my next deal. In order to complete the deal I have to team up with a few individuals, which will be our first time working together. They are very trustworthy and we plan to do many deals together in the future. However, we are contemplating if a LLC is necessary at this point in time? I have spoken with several investors who advised me that a LLC is essential, however it is not needed, especially in the beginning. On the other-hand, I have spoken with a hard money lender who advised that I should have a LLC formed at the time of closing.

So my question is: should we form a LLC for our first deal (considering the expenses & the management factor of a LLC)? Or should we get a deal or two under our belts and then form the LLC once we've gained more experience?

Hi, I am currently taking the online course for Maryland. Here's the link where you can sign-up for the course:> https://www.theceshop.com

Good Morning BP 🌎, I am looking for recommendations for a general contractor in the DMV area for an upcoming rehab project on my first purchase. I’m new to the DMV and the real estate market; therefore personal recommendations would be great. Thanks Dean