you may want to take what I say with a grain of salt because im still focused on being the best student that i can be but, an LLC is a legal entity as if it were a human being.

They use their famous name for LOIs and contracts and PR but then at closing they drop it in a separate entity to cordon off any liability.

You need to build your team a good real estate CPA will advise you on the best legal entity and tax strategies.

@Brenda Logan Best to meet with your real estate CPA to discuss tax and entity strategies.Paul

I want to make sure I'm structuring the business effectively for tax purposes.New Wholesale Business:located in GA (LLCs are easy)2 person partnershipassignments and/or double closings only (no flips/holds)I have other business interests so I will be high tax regardless.majority owner of S-corp for IT consultingW2 for my "reasonable salary" plus shareholder distributionsLLCs (and trusts, etc) pass through for owning rentalsLLC pass through for rental property managementLLC pass through for note holdingThis wholesale partnership will be the sole source of income for my partner.My primary concern is whether separate business entities prevent my rentals from becoming "inventory" when the partnership gets treated as a dealer.It seems a basic S-corp is the way to go with regard to earned income to minimize SE tax.  

Newbies often get all hung up on the following stuff: building a team, getting an entity, developing a marketing plan, setting up a website, designing a logo, choosing a company name, etc, etc, etc.  

I'm curious, has anyone been able to complete an entity that handles it all without subbing anything?

Hi BPer,During commercial application process, do you usually put your name down or the name of the LLC/entity on the application when buying the property?

No we don't all require it but it is to your advantage to be an entity.  

I know you are involved in several different entities, Bulleseye Capital, Inner 10, etc., can you tell us each of your businesses, what they each are, and what your role is?