Real Estate Attorney vs CPA vs Online Sources for an LLC

[Eric M.]

Hello Friends,

I have been looking into creating a Holding LLC. Any thoughts on using a Real estate attorney vs CPA vs Online source, doing it on my own? Also, any recommendations in the Georgia area would be very helpful.

[Ned Carey]

@Eric M.
Contact a good attorney familiar with real estate to handle this.  I recommenced the legal self help books by Nolo Press to help you understand the issues and choices to be made when starting a business. i don't however recommend you do it yourself from the beginning.  There are many Gotchas in law.

I don't recommend an online source. Important stuff like the foundation
of your business is not the place to be cheap and cut corners.

A CPA cannot create an LLC or other entity for you. That would be practicing law without a license. You should consult a good CPA regarding taxation and what are the best choices to make when choosing an entity to create.

[Basit Siddiqi]

@Eric M.

The scale of the professional you look for depends on how savvy and DIY you are.

If you have never done this before, value your time and are dealing with a complex structure - you may want to consult with an attorney.

If you created LLC's in the past, have time and have a simple structure you may be able to do it yourself or with some online resource.

[Eric M.]

Thank guys for this great advice!  And thank you for the book recommendation, @Ned Carey.  I will definitely check them out.

[Bill Hampton]

Eric, you should speak with a tax professional regarding the best way to structure your LLC and the tax implications depending upon the number of members of the LLC.

I am in Georgia and I have experience creating LLCs. Let me know if you have any questions. 

[Brian Geiger]

@Eric M.

I think you received good advice thus far. A Real Estate CPA is supposed to guide you on the tax shelter you will use for your business while the attorney set it up. I would use online resources only to become familiar with the benefits and disadvantages of setting a LLC so you can become informed. But ultimately you want to get a Real Estate focused Attorney and a CPA to guide you on setting up the entity. Who knows, whoever you pick can be your lifelong team players.

Let me know if you have any more questions:

Brian G. 

[Eric M.]

All great advice here! Thank you!