Need Help Determing Correct Business Entity - Posted by Dave K IL

import · April 30, 2000, 6:20pm

Posted by PBoone on April 30, 2000 at 19:25:37:

We use an LLC to hold property and “C-Corp” for our resale. I would suggest that you consult and hire a good accountant for the best possible senario regarding your particular situation.
Pat

import · April 30, 2000, 6:20pm

Posted by Dave K IL on April 30, 2000 at 18:20:26:

Hello everyone,

Can someone please set the record straight for me, as I am getting conflicting information. I currently have a job unrelated to R.E.[ about 60k], and I want to hold rental properties and do L/O’s. I live in Chicago, IL currently. The properties that I would have would be primarily in IL with a few in FL. My question is, what entity would be most benificial to me. I have read Bronchicks course and listened to Kiyosakis tape on Corporations and I am still kind of confused.From what I have gathered, it appears that holding property in a limited partnership with the general partner being a {C] corporation is most advantageous. I would appreciate any input on this subject.
Thank you