All Forum Posts by: Matt Mariotti

@Account Closed Did you do it through a real estate attorney or did you set it up online yourself?? What was your experience??

Thanks for the feedback!! I was leaning toward creating an LLC always good to get some opinions though. Are you familiar with legal zoom or incorporate.com? Do you trust setting up an LLC through these websites or would you recommend a real estate attorney? In Illinois it's going to cost about $1250 to set it up through a real estate attorney.

I am getting ready to do my first flip.. I am hearing some mixed thoughts on whether or not to set up an LLC. While I understand if you have a large amount of assets it is a good idea to set up an LLC, I just graduated from college 2.5 years ago and am still paying off student loans. Needless to say I do not have that many assets to my name. My private investor/partner in this does however have assets to protect. If the investment is set up in my name, can they only go after my assets or could my private investor/partner be on the hook as well? Looking for some sound advice here.. should I get an LLC for this first deal under my circumstances?