Forming a LLC company & in South Carolina

[Thomas Haskell]

I need to form a LLC company in South Carolina what are the do's and don'ts where do I begin etc etc any advice would be helpful. I'll be closing on five homes in the Charleston market for will be for rental purposes one will be a primary residence

[Kevin Nichols]

Thomas:

Any local attorney can set up and LLC for you that fits your needs. Usually costs about $300-$400 plus the $110 filing fee with the SC Secretary of State.

You won't be able to purchase the properties using the LLC, you'll purchase them as an individual and then deed them into the LLC.

Some REI say that each property should have it's own LLC, as a way to protect LLC assets against possible future litigation. I don't know if that's a good "best practice."

Thx,

Kevin