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Updated almost 6 years ago on . Most recent reply

Crislie P.'s profile image
Crislie P.'s profile image
Crislie P.
  • Rental Property Investor
  • from Montclair, NJ
  • Member since Jun 25, 2019
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Crislie P.'s profile image
Crislie P.'s profile image
Crislie P.
  • Rental Property Investor
  • from Montclair, NJ
  • Member since Jun 25, 2019
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Crislie P.
  • Rental Property Investor
  • Montclair, NJ
9
Votes |
37
Posts
Rehabbing & House Flipping

Hire a lawyer for LLC?

Crislie P.
  • Rental Property Investor
  • Montclair, NJ
Posted

Would like to hear your thoughts on starting an LLC, is hiring a lawyer necessary when staring out a fix and flip business? My first experience is fixing a house and then renting it out but it was not under an LLC and now we are ready to start doing a fix and flip? Can I just apply for an LLC or hiring a lawyer is necessary?

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John P.'s profile image
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John P.
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  • from Vacaville, California
  • Member since May 7, 2016
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John P.'s profile image
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John P.
  • Investor
  • from Vacaville, California
  • Member since May 7, 2016
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John P.
  • Investor
  • Vacaville, CA
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John P.
  • Investor
  • Vacaville, CA
Replied

Get it done by an experienced attorney. The reality is you are doing the LLC for protection in the unlikely event of a lawsuit. If that happens you will want everything to have been set up right. Not a good place to be cheap in my opinion.

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