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Updated over 8 years ago on . Most recent reply

Terry Wyche's profile image
Terry Wyche's profile image
Terry Wyche
  • from Durham, North Carolina
  • Member since Feb 26, 2017

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Terry Wyche's profile image
Terry Wyche's profile image
Terry Wyche
  • from Durham, North Carolina
  • Member since Feb 26, 2017
Terry Wyche
  • Durham, NC
1
Votes |
5
Posts
Starting Out

Do I need to form an LLC?

Terry Wyche
  • Durham, NC
Posted

Hello, I am new to the investment world and I am trying to take action on my business. I have attended Guru seminars that strongly advised that an LLC be established before conducting business. After reading some forums in BP I am seeing mixed opinions. So the question is do I need to set up an LLC as a beginner with no assets?

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Federico Gutierrez's profile image
Federico Gutierrez's profile image
Federico Gutierrez
  • Realtor
  • from Cleveland, OH
  • Member since Feb 9, 2015

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Federico Gutierrez's profile image
Federico Gutierrez's profile image
Federico Gutierrez
  • Realtor
  • from Cleveland, OH
  • Member since Feb 9, 2015
Federico Gutierrez
  • Realtor
  • Cleveland, OH
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Federico Gutierrez
  • Realtor
  • Cleveland, OH
Replied

You don't need an LLC. If you are going to try get a residential loan from a bank they won't lend to an LLC. Only to your personal name

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