Corp. ?/ LLP ? re: L/O s - Posted by SusanL.--FL

Real Estate Investing
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Posted by SusanL.–FL on April 05, 2001 at 08:25:24:

That is very helpful. (We’ve got to take it step-by-step this time around–which will explain all of my ‘newbie’ questions.)

As soon as I am able, (which hopefully will be shortly), we will be buying one of Bill B’s packages on L/O s. I would have LOVED to have bought it at the convention–but wasn’t able. {Actually, I was just GRATEFUL to BE there!} Told Kenny that NEXT year we’ll take along a couple thousand dollars with us so that we’ll be able to buy some of those gurus packages that are offered at a discount.

C-ya!

Susan

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Corp. ?/ LLP ? re: L/O s - Posted by SusanL.–FL

Posted by SusanL.–FL on April 04, 2001 at 11:35:23:

During our financial fiasco$ a couple years ago, we closed our corporation (AFTER we sold our commercial property).

Is it necessary to set up a Corporation or LLP in order to do L/O s? If so, should be wait to close on a L/O deal until we get one set up?

Or…once the L/O deal has closed, can it be moved over into a Corp. or LLP pretty easily?

I want to do everything in the correct order, this time around.

Susan

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Re: Corp. ?/ LLP ? re: L/O s - Posted by Brian Powers

Posted by Brian Powers on April 04, 2001 at 16:12:55:

Susan:

Bill Bronchick recommended that you use a Corp for flipping and an LLC for properties you’ll hold, such as a L/O when asked this question at the CREOnline Convention.

BMP

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Re: Corp. ?/ LLP ? re: L/O s - Posted by h michael

Posted by h michael on April 05, 2001 at 23:47:22:

Brian,

I too am a newbie, and need to know after I get he Corp set up as a C Corp, do I need to apply for an S corp to do rehabs or keep as a C? H Michael