All Forum Posts by: Christopher Williams

All, 

This is tremendous feedback. Now I have a silly question. Since I have a minority's owner in the business, would I have to make him a member? The salary issue is what comes to mind. Would I be required to change the ownership if I didn't want to include the partner as a member? I feel like the answer is yes, but want to be certain. 

Thanks you all for your feedback. 

Hi all. I'm new to real estate investing and from the Philadelphia area. I recently set up my business using legalzoom. The main function of the LLC will be to flip properties. While I do have a minority partner, I was unsure of the tax classification I should elect. I was told that an S-Corp would be best for my situation, but I wasn't given a clear explanation as to why. Can someone advise me on what's best or point me in the right direction. Additionally, what are the major differences from a pure real estate standpoint? Thank for reading. Chris Williams