Do You NEED AN LLC To Flip Houses?

Join Alex Martinez and Stan Gendlin from Real Estate Skills as they delve into a crucial question for aspiring real estate investors: Do you need an LLC to flip houses? Drawing from their extensive experience in flipping multiple houses, they share insights on the practicalities of using a Limited Liability Company (LLC) for real estate ventures.

 

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In this informative video, they discuss what an LLC is, emphasizing its role in limiting liability and protecting personal assets. With the United States being a litigious environment, the duo explains how having your properties under an LLC safeguards you in case of unforeseen circumstances. They stress the importance of treating real estate as a business and provide real-world examples to underscore the significance of liability protection.

 

Moving beyond the "why," Alex and Stan transition to the "how." They offer practical steps on starting an LLC, from utilizing state government websites to seeking assistance from attorneys or services like LegalZoom and Prime Corporate Services. The conversation extends to the financial aspects and benefits of having an LLC, including tax advantages, different tax brackets, write-offs, and the potential for building business credit.

 

Whether you're a seasoned investor or just starting in real estate, this video provides valuable insights into the advantages of having an LLC for house flipping. Watch it to gain a comprehensive understanding of the what, why, and how surrounding the use of LLCs in the real estate business.

 

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Timestamps: 

00:00 - Introduction

00:55 - Why You Need an LLC for House Flipping

01:35 - Where Does An LLC Not Protect You

03:06 - How To Start an LLC

05:07 - Benefits Of Having An LLC

 

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📝 Disclaimer:

This video is not personalized financial or legal advice for the viewer.