All Forum Posts by: Scott White

Hi @Alex Mendoza, and welcome! I'm in much the same place - I've got some cash scratched together, have been going great-guns with the "initial learning" phase, have pulled together much of my initial network, and am ready to do a deal for real so I can move my knowledge from theoretical to actual.

One of the things flummoxing me right now, however, is getting my business entity set up, and getting me trained in its proper use. I'm close to 50 and would like to make the most of the next 10-ish years so my portfolio can really pay off in my 60s. So, I'd like to set up my LLC once and get it done right, in advance of doing my first deal, so I don't have to rework it in the near future. However, dipping an initial toe in that water got me a quote that'd eat up about 1/3 of what I have saved for a down payment. Yikes!

I'd welcome some perspective from more experienced investors on what a reasonable amount is for the above. I know I can DIY or LegalZoom it on the cheap, but I'd like at least some pro oversight to ensure I'm not making a key mistake. On the other hand, my situation's pretty basic and I don't want to over-spend.

Hopefully this sub-topic might be of interest to Alex and other new investors in a similar boat ...