All Forum Posts by: Mike Brabham

As a new investor, I haven't formed my legal entity yet. I have owned several businesses in the past and have always been advised by attorneys to form an LLC. and CPA's always advise an S-Corp due to tax advantages.

I am noticing that nearly everyone I've interacted with on BP has an LLC structure.

Are LLC's more real estate friendly? If so, why?

Not looking for legal/tax advice just curious why so many elected to go with LLC.

Any comments or thoughts would be appreciated!

@Ray Jimenez You definitely want to have your legal entity own the property. You personally don't want to own rental property. You want to CONTROL assets for liability as well as tax reasons. You need to seek advice from a CPA/Attorney to discuss the best way for you to proceed.

 I'm new to investing but have rented many times over the years. I don't ever recall asking "Who will be holding my deposit" I don't think potential tenants are looking for anything other than a decent place to stay at a decent price.

Hello and thank you all for contributing to a great community of very knowledgeable individuals. After years of wanting to begin, I am easing into REI but want to do it right. The education I get here will help me do just that. Looking forward to engaging with you...