Been lurking on the board for a few weeks. Very impressed with the amount of knowledge and expertise that is in this board!
I work in a manufacturing facility (i'm in finance) and i'm getting my feet wet in RE. Looking to start with a few rental properties with some cash flow, but my plan is to invest long term and grow into some larger multi-family properties.
I did post a question in the Taxes forum about forming an LLC vs S-Corp, so if anyone has any knowledge in that area, please check that out.
Thanks for all the info and i look forward to reading/learning and interacting in the forum.
Let me welcome you to the forum and extend my
electronic hand to you in welcome.
As far as S-Corp vs LLC, I vote for LLC.
Welcome to the forum Snooka.
LLC is MUCH easier to manage the paperwork aspect.
however, i think if you're trying to raise capital for a business (non real estate), Corp lends itself better for this. just my two sense. in the long run also - if your business expands and begins to purchase real estate (for offices etc.) then Corp is better - it affords the greatest seperation (ownership is severalty with corp, one owner) - although LLC accomplishes the same type of limited liability.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you