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Updated almost 11 years ago on . Most recent reply

User Stats

62
Posts
24
Votes
Jennifer Hollstein
  • Home Rehabber
  • Rockaway, NJ
24
Votes |
62
Posts

Starting and Creating my business

Jennifer Hollstein
  • Home Rehabber
  • Rockaway, NJ
Posted

I am just starting out here. I am in Northern NJ.

I have a goal within the next year to buy, renovate and sell 2 single family homes. I would also like to purchase and renovate a duplex or triplex and maintain for rent. Year two I would like to do the same with an added 2 rental units accumulated. 

I have chosen my business name, purchased the website, opened an email account, and a phone number specific for this. 

Now my question is

What type of company do I create?

Does the company have to be formed in my own state? We have the worst taxes in the nation for everything.

It was suggested to me that I should create an LLC and on the application there is an option to choose to be taxed as a S or C corporation. Choose how I am taxed.

Is there anything special I need to know or to do to accomplish this?

Who do I go to for this? lawyer, accountant, other?

Thank you in advance for your help and guidance. LLI

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