Posted by Chip (Tx) on March 07, 2002 at 18:29:45:
Since you are just getting into this, let me shed some light.
First, an LLC is not a corporation. The benefits are not the same. An ‘S’ corporation is not much better. For the real benefits of a corporation, you need the standard ‘C’ corporation. There are some good courses on this stuff… Bronchick, Boddiford, Laughlin. Get them all and study. The answers will be obvious, and you can do it yourself…cheaper… even after paying for the courses. And you will know “WHY” you are incorporating.
Greetings everyone, I am a beginning investor itching to start hunting for deals with the intent of wholesaling my finds. I’ve read William Bronchick’s Flipping Properties book a few times now and am convinced that I need to incorporate. Which corporation is best suited for the wholesaler? The LLC, S and C all seem to have different positives. I’d like to hear what you all have to say on the subject before I consider seeking pricey legal counsel.