Updated over 13 years ago on . Most recent reply
Wholesalers liability (LLC vs. sole proprietor)
Quick question about business structure. I was recently talking to my accountant about my planned start in the wholesaling business . We talked a little about tax implications and then she brought up a good question. "Why do you want to form an LLC"? I answered that I wanted to protect my assets. We talked a little about it, and came to the conclusion that there is not really much liability in wholesaling and it may not be worth the hassle to set up and manage the LLC.
Disclaimer: This was an accountant, not an attorney. I'm also not sure how familiar she is with wholesaling in particular, and real estate investing in general.
Any thoughts are appreciated!