Using L.L.C.??? - Posted by mike

import · March 13, 2002, 10:52pm

Posted by Mike on March 14, 2002 at 01:15:58:

thanks, can U maybe help me with my new post?(see new post “Help! 2 leads which is a deal”)

import · March 13, 2002, 10:52pm

Posted by mike on March 13, 2002 at 23:52:29:

Has anyone ever flipped properties with using there own name? Is it a must to use a L.L.C?
thank you all,
so much for spending
time with us newbies!
Mike

import · March 14, 2002, 12:10am

Re: Using L.L.C.??? - Posted by Dan

Posted by Dan on March 14, 2002 at 01:10:41:

Mike,

It isn’t a must but does offer certain tax and liability benefits.Both entities are simple to form and maintain if you are investing on a regular basis.
A corp provides better tax benefits for active income(flipping).An LLC is typically better for passive income(rentals).

Dan