Posted by Bill K. (AZ) on April 27, 1999 at 19:01:02:
There are 2 types of people in RE investing. Those who have formed corporations or limited liability companies to protect themselves from personal liability and those who wish, or WILL wish, that they had.
If you are investing in real estate, you would be wise to set up a corporation or limited liability company in order to protect your personal assets from your business liabilities.
I don’t know where you live, but in Arizona, forming a corporation or LLC is not at all difficult, costly or time-consuming.
Bill Bronchick offers a great course on forming corps or LLCs. It’s entitled “How To Form Your Own Limited Liability Companies and Family Limited Partnerships”. The material is easy to follow. Forms for all states are included.
Forming a corporate or LLC entity is but one part of complete business/estate planning.
I hope this helps.
Bill K. (AZ)