I am extremely interested in lease option investing, but have yet to start. I am stuck in a dilemma of whether or not I need to form a corporation or LLC to protect my assets once I begin closing deals. I would love to hear what fellow investors have experienced on this subject.
It depends on what your goal/plan is. Are you looking to have titles in your name or company or are you looking to do joint ventures where the title is in the money partner's name?
Hi @Evan Brophy ,
That's totally up to you and your accountant. As Justin eluded to it totally depends upon your goals. To start it isn't a bad idea to have an LLC thats sole purpose is to do 'rent to own' deals. That way you don't have to mess with assets being protected.
Hope that helps,
@Evan Brophy always make sure that you check with a local attorney. I'm in no way giving legal advise here. Just my 2 cents on the matter.
I don't know know why you would want to personally sign a lease or option contract. If you default on the lease, you could easily end up in a lawsuit situation. Do you want to have a judgement against you personally or against an LLC/Entity? That seems like an easy decision to me. Of course I'm not giving legal advice....
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