Legal Question in Real Estate Law in Florida
My parner and I buy, renovate, and sell houses in Florida. We've done this before as individuals but want to set up an LLC. Can we - as LLC - partner with another person or LLC in buying/selling? Would both be reflected as owners? Also, can we use our personal resources, ie credit cards, in funding renovation on LLC owned property?
Asked on 5/03/12, 10:18 am
1 Answer from Attorneys
Yes, however I would get a LLC credit card. If you use your own credit card you are still personally responsible (and you should get an agreement with the LLC on reimbursement for protection).
LLC's are very flexible, but you really should use an attorney to do it right. Most people I find that do it themselves have actually done it wrong in more then one respect.
Answered on 5/03/12, 10:25 am
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