All Forum Posts by: Malikah Planas

These codes below no longer exist. As far as I can tell there are no longer any codes that are for Real Estate Wholesaling in any way. Probably due to the restrictions that the gov are trying to place against Wholesaling & Assigning Contracts. I have spoken to 3 Real Estate Attorneys, 3 CPA's, Credit Suite and 11 other Wholesalers as well as extensive digging throughout the NAICS website. Also, if you are a new wholesaler or Flipper trying to form an LLC and want to get funding, it is very wise NOT to have anything whether it be "Business Purpose" or an NAICS code that has any relation to Real Estate whatsoever. It will put you in a "High Risk" category with the credit bureaus and lenders and you will most likely be denied.

SIC 6531054 - Real Estate Buyers Representatives (wholesaler/non-licensed)
SIC 6531026 - House Buyers (wholesaler/non-licensed)

Hey @Brian Frasier did they mention what code can be used or any similar codes? I was also having a hard time finding a code that would be applicable. I was thinking 531390 Other Activities Related to Real Estate

0 Votes

Quote from @Allan C.:

@Malikah Planas one additional consideration to add - you pursue partnerships a LLC may enable easier accounting.

Thank you! @Allan C.

0 Votes

Atlanta, Georgia

Thanks guys for explaining, that makes perfect sense!

0 Votes

Atlanta, Georgia

Hi, what is the benefit of listing a property with the LLC, for example, I saw a home on Zillow that was purchased by someone using the street name ex: 2345 Anywhere Dr. LLC I also saw the business was formed when they originally purchased the property and then dissolved once the property was resold.

what is the reasoning for that?

0 Votes

Atlanta, Georgia

https://www.youtube.com/watch?... Is it an off-market deal? He has some good videos on Youtube helping with making offers for both off-market and on-market deals.

1 Vote

Atlanta, Georgia

All Forum Posts by: Malikah Planas

Malikah Planas has started 1 posts and replied 5 times.

Post: NAICS Code for Note Wholesaling

Post: Putting a Property in an LLC?

Post: Putting a Property in an LLC?

Post: Putting a Property in an LLC?

Post: What is the first step?