Creating a legal entity

3 Replies

when planning to wholesale full time when is the right time to set up a business, before my first deal? After my 3rd successful one?  Also what is the right entity to create for just me and my girlfriend as partners? 

@Gregg Alexander  my wife and I are 50/50 partners in our S-Corp. I think this was the right way to go for us in doing wholesale deals. I feel personally that you need to set up your company right away. I mean you need to start building a brand name and that takes time! You should also seriously think about creating a website right now! This will take a little money but you need to get started. Rome was not built in a day! Good luck and feel free to reach out to me and ask me questions!

@Gregg Alexander  the answer to your question has a lot of background that only you can bring. There is no exact time or date or number of deals to do before forming a business entity but since you have a partner up front you need a contract that lays groundwork. You must first have knowledge, a plan, a business plan, a identity and somewhere along the way either at the beginning or sometime later create the entity that fits your individual need and end result. Go to it and Have Fun!  Tom & Roni 

Ahhhh :-D.... those answers just got me really excited. thanks @Tom, thanks @Stephen !!!!

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