Posted by Bill K. (AZ) on April 07, 1999 at 13:47:36:
Bill Bronchick suggested recently in one of his “Live Chat” sessions that “C” corporations are best for lease/options, rehabs and other short-term holding situations. If you are planning to hold rental properties (long-term), then an LLC would be more appropriate.
I don’t remember the exact reasoning for this, but that was his answer to this same question in his chat room.
I hope this helps.
Bill K. (AZ)
Which is best…LLC, C, S ? - Posted by Bob-MD
Posted by Bob-MD on April 07, 1999 at 08:29:21:
I’ve read the information and listened to the tapes of LeGrand and Bronchick but am unclear on which route to take as far as incorporating. I’m not a big investor but I do it full time and am ready to try some L/Os and flips and am currently doing rehabs. I’m just not sure what is the right way to protect myself without adding a lot of extra paperwork, tax reporting, corporate tax (with a C corp), etc. Any advice would be appreciated.