Starting a Real Estate Company
I am not sure if I should form an LLC or to incorporate. Please help.
Asked on 7/25/07, 2:10 pm
1 Answer from Attorneys
Robert Thompson
J. Robert Thompson Attorney
Re: Starting a Real Estate Company
This depends on what you mean by a "real estate company".
If you intend to buy real estate for resale, either an LLC or an S corporation will protect you from personal liability, and the tax consequences will be much the same as if you owned the real estate personally.
If you intend to invest in rental property, and hold it for appreciation, an LLC is your best bet.
You should consult an attorney to make sure the paperwork is done properly, and that all aspects (particularly the tax aspects) are examined.
Answered on 7/25/07, 2:31 pm