Corporation in California? What kind? - Posted by Doug

Real Estate Investing
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Posted by John Merchant,JD on July 08, 2002 at 10:08:55:

Your few “simple” questions might certainly take only a 3-6 hour college course to supply yourself with some basic info…in lieu of which, I’d suggest you get yourself to Amazon or local library and start in a’studyin’.

Seriously this is a topic on which people, smart people, spend years learning and studying, and no one answer fits everybody.

CA, like most states, permits C,S,and LLC variety of corps.

What fits your needs? Who knows? But after a good bit of study, you’ll know better than you do now.

A couple of books from which I’ve learned and profited, post law-school and 20+ years of law practice: Jimmy Napier “Corporations-The Ideal Way To Do Business”…available through Jimmy Napier,Inc., Chipley Fl…call info at Chipley, they’ll quickly give you his number.

And Amazon, Borders, etc., have a myriad of other good texts on how to inc., and use them for your fun & profit.

Best wishes on your coming education!

John Merchant,JD

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Corporation in California? What kind? - Posted by Doug

Posted by Doug on July 08, 2002 at 09:37:19:

I’m a relatively new investor – have a couple SFR and am in escrow on some multi-unit dwellings. I’m thinking of creating a corporation to:

  1. shelter income
    and
  2. reduce personal liability

Does this make sense? and what is best (C, S, LLC, etc.) for California for fix/sale and buy/hold (as opposed to flipping)?

Also, does it matter where I incorporate? (I see these seminars on Nevada corporations and am not sure if there are advantages/disadvantages of this)

So far I’m leaning towards a C Corp. If this makes sense, what is the best (economical) way to proceed?

Thanks.

Doug