All Forum Posts by: Carlos Buitrago

Dear @Jeffrey S. Breglio,

I appreciate you taking the time to read and answer this question. In order to get my business going, I ended up creating an LLC last night, so I am thrilled that you advised to go that route! I will look into the S-elected option you mentioned, but as you said, once my business grows it would be a matter that I look forward to encounter!

Thank you for your response and I wish you a great day!

Hello Everyone!

I am fairly new in the Real Estate Investment industry and love this forum site! I have read many great articles and threads and I am getting ready to get out of the analysis paralysis status and start my business! 

I have the areas that I want to target, got a company name and I am networking in my local REIA, but I am now trying to figure out if I should set up an LLC, S-Corp, or C-Corp, as some colleagues have advised to get one or the other for various purposes and this keeps me away from making an ultimate decision. My main goal is to be protected from liability, as well as being able to maximize the tax breaks available when doing business as a corporation. 

I am reading some threats, as there is a lot of great information in this website and online, yet it has been a bit overwhelming to try to find the right path to investigate and proceed with, regarding the type of corporation that would be best for both Real Estate Investment and as a Realtor. I have a partner and we are trying to get things started, but not sure what would be the best route to take, in order to maximize our profits and utilize the tax breaks available through a corporation, as I learned a hard lesson when I did my taxes last year as self-employed for the first time. 

I am planning on going to an account firm to get further guidance, but wanted to see if there are any Florida Investors that have been in a similar situation and could kindly offer some advice, as I want to start by wholesaling in order to gain more capital, then flipping homes and owning a few rentals.

Any guidance would be immensely appreciated. Thank you for checking out my post and I wish you the best! :)

Kind Regards,

Carlos Buitrago