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Updated over 1 year ago on . Most recent reply

Summer Shelton's profile image
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Summer Shelton
  • Investor
  • from St. Louis, MO
  • Member since Jul 20, 2023
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Summer Shelton
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  • from St. Louis, MO
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Summer Shelton
  • Investor
  • St. Louis, MO
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Starting Out

Create an LLC before purchasing first property

Summer Shelton
  • Investor
  • St. Louis, MO
Posted

I am on the hunt for my first real estate investment. Would you say it's necessary to create an LLC to purchase the property?

located in Missouri,  St.Louis area

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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied

Find something to buy and operate first, then start worrying about LLCs. I do not have one and we have a lot of years and a lot of properties. Good insurance and maintaining your properties will cover 99% of all contingencies, and don't be fooled into thinking an LLC is impenetrable when it comes to seizing assets.

Think about it this way: would you start collecting furniture for the house you're going to buy one day? Or would you buy the house and then fill it with furniture? 

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