Real estate Wholeselling

[Edd Newkirk]

Is a LLC necessary for conducting a wholesale deal?

[Ray A Delfi]

@Edd Newkirk no, as long as you are only assigning the contract. But if you plan on holding properties, going in with a partner, or scale it into a business then I would suggest it. When you are the sole member of an LLC it's no different than you doing it with out one. You income still gets rolled into your personal taxes. Bottom line, It's an expense that you can do with out. Next time you do your taxes ask your tax professional or CPA what benefits it would provide once you explain the operations of your business and who if any will be conducting business with you. Remember you can always 1099 employees as independent contractors to avoid the Human Resources requirements and salaries and wages. Hopefully the information I provided was helpful, but wanted to be as general as possible as every state is different and you should always conduct research with in the specific laws of your state, county and city.