Creating my Fix and Flip LLC

[Christopher Lee Johnson]

Good Morning family,

I'm aware I don't need a LLC when executing a few deals starting out, but would I be able to run a business doing wholesale deals under an LLC meant for fix and flip? My plan is to fix and flip too, but I also want to structure wholesale deals as well.

[Anthony Dooley]

It doesn't matter what the LLC is meant for. It's a real estate business. You can wholesale in your name or the LLC, it doesn't matter. You can also buy houses, fix them, and resell them under the same LLC or your name. Both of these activities will result in taxes on profit. The important thing is to track expenses per deal and keep receipts/book keeping in order to accurately report profit for tax purposes. The LLC doesn't affect your taxes.