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Casey R.
  • Rental Property Investor
  • Sacramento, CA
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CA wholesale, cheapest one time use entity?

Casey R.
  • Rental Property Investor
  • Sacramento, CA
Posted Apr 19 2019, 17:32

I have a CA resi wholesale deal. Need to go to contract and don't have an entity set up. I want to avoid the 800 extortion fee since this is just a single deal and I'm not regularly operating in CA. I'm a CA resident but I'm looking out of state. This CA deal just makes sense so I need to double close it and don't want to do it in my name. I don't have time to register as a foreign entity if I set up an LLC in another state. Any ideas on the cheapest quickest way to be protected in the deal? Currently it looks like I can set up an LLC in CA within a few days and then I'm going to have to pay the 800 annual even if the entity only exists for a couple weeks. I did see something online about avoiding the 800 with an S election of the LLC but I haven't found anything to corroborate that yet.

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