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Updated almost 10 years ago on . Most recent reply

Michael Maicad's profile image
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Michael Maicad
  • Investor
  • from Morton Grove, Illinois
  • Member since Nov 27, 2015

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Michael Maicad's profile image
Michael Maicad's profile image
Michael Maicad
  • Investor
  • from Morton Grove, Illinois
  • Member since Nov 27, 2015
Michael Maicad
  • Investor
  • Morton Grove, IL
3
Votes |
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General Landlording & Rental Properties

need help!!!

Michael Maicad
  • Investor
  • Morton Grove, IL
Posted
hi everyone! we need your help to choose the business entity that is appropriate to our goals in REI. my partner and i are focusing on multifamily home rentals with sec8. we are trying to build passive income and maybe do flips on the side in illinois where we reside. do you think we should incorporate our business name with LLC or S-corp?
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Russell Brazil
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Russell Brazil
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Russell Brazil
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ModeratorReplied

Consult an attorney and a CPA to determine what is best for your specific needs.  If you have a lot of assets to shelter, then having some kind of entity may be worthwhile.  I always do find it funny though the people who have zero assets and that are worried about asset protection.

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