Business Setup - Posted by Bret

Posted by tony b, columbus, ohio on September 25, 2003 at 12:24:10:

i suggest you read the john hyre article on this topic… i think it will help

Business Setup - Posted by Bret

Posted by Bret on September 25, 2003 at 11:56:30:

Hello all…

I have been actively reading posts here for about a month and have learned a ton. Seems like a great community.

My big question of the day is this…

I’m about a month away from having my business up and running and I’m looking for input from others about what type of business structure they operate under.

I already have an LLC established, but after reading posts I’m not sure that is the way to go. I’m sure that it depends on what types of transactions I plan on doing.

My goals are:

  1. Aquire some SLH rental properties with cashflow
  2. Keep an ear to the ground and try yo grab a couple of foreclosures and try to resell/flip them for equity
  3. Aquire 2-4 rehab properties over the course of the next year and either resell, or rent if the cashflow is right.

Is an LLC the right structure for my business? I’m looking for some limited protection and financial benefits of cycling the profit through the LLC.