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Updated over 5 years ago on . Most recent reply

Mysonne Johnson's profile image
Mysonne Johnson's profile image
Mysonne Johnson
  • Flipper/Rehabber
  • from Buffalo NY (buffalo, ny)
  • Member since Apr 28, 2020

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69
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12
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Mysonne Johnson's profile image
Mysonne Johnson's profile image
Mysonne Johnson
  • Flipper/Rehabber
  • from Buffalo NY (buffalo, ny)
  • Member since Apr 28, 2020
Mysonne Johnson
  • Flipper/Rehabber
  • Buffalo NY (buffalo, ny)
12
Votes |
69
Posts
Goals, Business Plans & Entities

Protection: Enity & LLC

Mysonne Johnson
  • Flipper/Rehabber
  • Buffalo NY (buffalo, ny)
Posted

When should I think about starting to create my entity and my LLC? Before I start my investing journey or during when I have a couple deals under my belt?

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Dave Spooner's profile image
Dave Spooner's profile image
Dave Spooner
  • Rental Property Investor
  • from Cincinnati, OH
  • Member since Feb 7, 2020

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Dave Spooner's profile image
Dave Spooner's profile image
Dave Spooner
  • Rental Property Investor
  • from Cincinnati, OH
  • Member since Feb 7, 2020
Dave Spooner
  • Rental Property Investor
  • Cincinnati, OH
823
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867
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Dave Spooner
  • Rental Property Investor
  • Cincinnati, OH
Replied

 @Mysonne Johnson I think you should start your LLC before purchasing your first property. Your personal assets are protected from any issues that could arise from investing in real estate. You can separate and protect each of your rental properties. Also, you will get the benefit of pass-through taxation, so your income is not taxed twice.

Good luck! 

  1. Dave Spooner
  2. [email protected]
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