Getting Started as an LLC

I think using an LLC is a way to present yourself more professionally. I have applied for mine and am waiting for the paperwork back from the state.

Here's a thread that I looked at that gave me a lot of good information. Maybe you'll find some tidbits there as well.
http://www.deangraziosi.com/node/927

The best to you and your endeavors!

I appreciate the feedback!

I am actually looking into starting up an LLC as well. Some of the perks in having an LLC, you can do a tax write off for almost everything you do in real estate. If you take a vacation to another state you can look at an open house or two and write off your vacation as a business trip. Also, you can either put your vehicle under the LLC's name or have your LLC give you personally a monthly vehicle allowance and you can write of all vehicle expenses under the LLC.

Good Luck with everything!

I am in the step to setup LLC as well too, but as I research deeper, I'm now debating whether should I setup a LLC or a Series LLC and where. Delware and Nevada are the only two states offer Serices LLC. Due to I found REO here in CA you can't turn around and wholesale it, the get around is to purchase the property using LLC. Hence, a Series LLC not only give you more asset protection, but also I can sell it without seperate setup fee for another LLC.

Any suggestion?

-Kathy

The basic purpose for any type of corporation, whether it's a LLC or S Corp is for liability protection. All expenses are "write offs" under either corp. Keep in mind that vehicle/homeowners insurance is usually more expensive in the corp. name. As for credit you still must establish it separately, & in a lot of cases even with a corp. with excellent credit banks still want personal guarantees on loans or lines of credit.