Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
Market Trends & Data
Buying & Selling Real Estate
Out of State Investing
Real Estate News & Current Events
Real Estate Technology
Investor Mindset
General Info
General Real Estate Investing
BiggerPockets Exclusive PRO Area
PRO
BPCON
New Member Introductions
Questions About BiggerPockets & Official Site Announcements
Off Topic
Starting Out
Real Estate Success Stories
Real Estate Horror Stories
Real Estate Strategies
House Hacking
Commercial Real Estate Investing
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Innovative Strategies
Mobile Home Park Investing
Land & New Construction
Multi-Family and Apartment Investing
Wholesaling
Rehabbing & House Flipping
Short-Term & Vacation Rental Discussions
Tax Liens & Mortgage Notes
Medium-Term Rentals
Buying & Selling Small Businesses
Outdoor Hospitality
Landlording & Rental Properties
General Landlording & Rental Properties
Managing Your Property
Marketing Your Property
Tenant Screening
First-Time Home Buyer
Real Estate Professionals
Mortgage Brokers & Lenders
Contractors
Real Estate Agent
Financial, Tax, & Legal
Creative Real Estate Financing
Personal Finance
Insurance
Private Lending & Conventional Mortgage Advice
Tax, SDIRAs & Cost Segregation
Foreclosures
1031 Exchanges
Goals, Business Plans & Entities
Legal & Legislation
Real Estate Classifieds
Classifieds
Real Estate Events & Meetups
Reviews & Feedback
Ask About A Real Estate Company
Real Estate Deal Analysis & Advice
Guru, Book, & Course Reviews
Syndications & Passive Real Estate Investing
Cody Wilkinson's profile image
Cody Wilkinson's profile image
Cody Wilkinson
  • Real Estate Agent
  • from Des Moines, IA
  • Member since Sep 27, 2017

User Stats

23
Posts
5
Votes
Cody Wilkinson's profile image
Cody Wilkinson's profile image
Cody Wilkinson
  • Real Estate Agent
  • from Des Moines, IA
  • Member since Sep 27, 2017
Cody Wilkinson
  • Real Estate Agent
  • Des Moines, IA
5
Votes |
23
Posts
Goals, Business Plans & Entities

Should I have a LLC on my first deal?

Cody Wilkinson
  • Real Estate Agent
  • Des Moines, IA
Posted
Hey BP community! So I wanted to hear everyone's opinion on a specific subject. Do you think I need to have an LLC set up before I go and get my first deal? What are the draw backs if I don't?
0 Votes
Follow
5 Replies
Jump to Last Reply
Log In or Sign Up to Reply

Most Popular Reply

Jack Bobeck's profile image
Jack Bobeck's profile image
Jack Bobeck
  • Rental Property Investor
  • from Jacksonville, FL
  • Member since Jun 30, 2008

User Stats

784
Posts
528
Votes
Jack Bobeck's profile image
Jack Bobeck's profile image
Jack Bobeck
  • Rental Property Investor
  • from Jacksonville, FL
  • Member since Jun 30, 2008
Jack Bobeck
  • Rental Property Investor
  • Jacksonville, FL
528
Votes |
784
Posts
Jack Bobeck
  • Rental Property Investor
  • Jacksonville, FL
Replied

@Cody Wilkinson This is a great question for TWO team members you should have on your team, 1) Your CPA, and 2) Your attorney. Make sure both work with investors, if they have their own properties, a bonus. 

1 Vote
Log In or Sign Up to Reply
Sort By:

Loading replies...