I was wondering, do you have to have a dedicated LLC for REI? I know that buying RE under that LLC could cause problems down the line for obvious reasons (getting sued could affect the business, etc), but is there any other reason NOT to do it this way? Especially in the beginning?
I'm looking to get my first property sooner rather than later and already have an LLC that I formed for my multimedia company. Should I use it for REI or just create a new one?
I am by no means a CPA or business attorney, but from what I've seen, you want to keep those things separate as multimedia and real estate are very different kinds of businesses. You don't want to mix money and accounts and have your multimedia company be on the line for something that goes wrong with real estate and vice versa.
Another Phoenician! Sweet!
Yea, that's kinda what I was thinking too. Looks like it's time to hit up incfile.com again! lol