LLC, Inc, S corp or what? - Posted by Bill G.

Real Estate Investing Real Estate Law
#1

Posted by tk on March 22, 2002 at 12:43:07:

guys,

i replied to a post higher up the list. i suggest you both read it.

i can see why you might use an S corp since it’s a pass through entity, but unless your personal income tax bracket is 15%, then do a C corp for flips. always use an LLC to hold properties or a limited partnership, LP, with you as a person being the limited partner and the C corp as the general partner.

you both could maybe use some additional reading up on corp structure. a weekend course is also probably the best $500 you’ve spent.

this is just my opinion. best of luck.

tk

#2

LLC, Inc, S corp or what? - Posted by Bill G.

Posted by Bill G. on March 18, 2002 at 23:01:12:

Hello,
As the subject implys trying to figure out which is best way to go, her in las vegas.

Criterion:
I want my FIRST corp. to be general, (as I understand that haveing different corps. can decrease the injury in a settlement, not all apples in one corp.) right!? So anyway plan on doing flips at first then eventually holding property. But wanna get some safegaurds in place from the start.

Thank you
Bill

#3

Re: LLC, Inc, S corp or what? - Posted by JHyre in Ohio

Posted by JHyre in Ohio on March 19, 2002 at 05:59:50:

For flips, S or C corp is probably your best bet. Which is best? Depends on many details, though S is usually best for beginners.

John Hyre