This audience question is submitted by Joan P. Thank you! Her question was do you create your LLC before or after you purchase your rental property. If you a…

Categories: Prepaid Legal Q & A

9 Responses so far.

  1. TheKhaosripit says:

    Not to sound funny or anything but what exactly is an LLC?

  2. Interesting stuff says:

    Very good info. One more thing, an S-Corp is also a viable option. I have
    one, but you have to pay yourself a salary as an employee of your own
    business, as opposed to an LLC that it’s not needed. I hired ADP payroll
    services for a very small fee and pay myself tiny salary as an employee of
    my own business. It’s easier to keep the books that way tax wise, and an
    S-Corp gives you as much protection as an LLC. Very good info! Please keep
    it up!?

  3. Randall-Dana Nicholson says:

    Hi Lisa,
    We are ready to officially go forward with our business. I would like your
    opinion about setting up LLC. I live in NYC, but will invest in SFR in NC.
    Should we go with a company like RocketLawyer (recommended by
    BiggerPockets) to set up our LLC? I needed to know the best state to set up
    an entity. I know you can set up a entity in a different state from where
    the business will operate. So, I wanted to make sure I am doing this right.
    Please advise.

    From Dana?

  4. Jidigga81 says:

    You’re doing great!?

  5. Kinsken says:

    Could I get my llc . In another state then buy my house somewhere else?

  6. rampower56 says:

    Thank You!!?

  7. Juliette Clarke says:

    Hi Lisa love your channel and your spirit just start following you I have 2
    properties one is my primary and the other rental. You have inspired me to
    move on and I have see another vacant property went to city hall owner owes
    $11000,00 in taxes try to find the owner to find out what the status is at
    no avail what do I do??

  8. 555holg says:

    Hi. Do you have to create a separate LLC for each property you purchase or
    can you use the 1 LLC to buy multiple properties??

  9. idonthaveacoolname1 says:

    another informative video from the investor with the pretty smile. thanks!?

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