Hey Yall, i have an LLC and ive decided that Im going to start wholesaling. Should I do it under my LLC or is that not needed?

LLCs are formed for specific reasons -- and the operating agreement that goes along with each LLC should reflect that. If you formed an LLC to contain an insurance brokerage, the operating agreement would look different than an LLC that was formed to facilitate real estate investment -- and that's a good thing. However... that means that, to some degree, an LLC might not be well suited to operating in a different business, just because it is a 'business entity'. You don't need an LLC for each property -- you *can* do that, but generally, that can turn into more of an administrative (and costly) headache than it's worth. You can, however, create land trusts for each property, which is much less expensive -- and name an LLC as the asset owner. I would listen to this guy's presentation about LLCs, and consider taking an approach that is similar to it. If your LLC was set up for a purpose other than real estate, it can still 'own' real estate assets, but, if you ever face litigation, the operating agreement may not stand up in court (the expectation with LLCs is that you operate it according to the agreement, and if you aren't... are you really running an LLC?), which may expose you to more risk than you'd like. I am not a lawyer, but this is what I have gleaned from listening to various attorneys, and real estate investors explain their thoughts on it. You should definitely consult your own attorney and accountant before making any decision about what to do.

@Quintin Green I’m just starting wholesaling as well in Washington with a partner and I’m doing it through an LLP. Let me know if you find out!

I believe (in less you have a real estate broker license) that you form an LLC for each property and sell the LLC to the buyer each time you wholesale a property.. i could be wrong though

@Grayson Loupas Alright gotcha, good luck!!

Should I start wholesaling under my LLC?Should I start wholesaling under my LLC?

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Should I start wholesaling under my LLC?

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