Setting up a Company for WholeSale?

3 Replies

I need help I'm not sure what to do I'm jumping into Wholesaleing and was wondering do I need to Set up a company for My wholesaling Business. I'm thinking Yes even if its a small amount of deals per year, just because of tax purposes and to have some type of protection. Any help would be awesome I have no idea and or direction to more info. Whats the a good REI to go to to in Houston? Also If I did set up a company for Wholesale How would this effect me as a Realtor? It's not brokerage I'm I Safe?

You can run your business as a sole proprietor where you and your business are legaly and tax wise the same. Most businesses set up an entity like a corporation or an LLC. Generally LLCs are better than corporations for owning real estate.

How you should set up your business depends on many factors. There are both legal and tax implications. Talk to an attorney and a CPA. Keep in mind they may give conflicting advice. 

A good site to check in NOLO Press who publish self help legal books. you can also do a search here as this subject comes up often.

@Joshus light  thanks for the advice makes sense, you brought up a good point.

@Ned Carey I'll check out that website out to see what I can find. Thanks for your help