To LLC, or not to LLC, that is the question
Hello Everyone!
So we are trying to start getting our ducks in a row before we start shopping for our first property. I don't want my wife and I to fall in love with a deal and jump on it before we have everything ready. I am going to give a list of the things on our "To Do List." Can you please let me know what I am leaving out? Also, my main question is on an LLC. Is this the best way to go about protecting yourself? My wife and I are actually partnering with her cousin and his wife. The four of us together are going to try and buy at least 1 property per year. Is the llc the best way to go about our protection? How much approximately does that cost to set up?
To-Do List:
1. Talk with our lawyer about the LLC (what else should we cover in this meeting?)
2. Bank-Preapproval (shouldn't be a problem)
3. Speak with our accountant about our upcoming plans.
4. Work with our insurance agent (wife's aunt is an agent)
5. Contact a Realtor (I know a few)
So what else am I missing here? Excited for this new venture and can't wait to get started, but I am already feeling the nerves!
Any and all advice is appreciated!!
DJ Cummins