How To Set Up My First LLC/LLP?
I'm a first time buyer and planning on buying and investment apartment with 2 others. I was told that we will need to personally sign for loan (not via the LLC). If I form an LLC for tax/liability purposes, how do I associate/assign the property to the LLC?
Welcome Marko,
The best way to learn everything that you ever wanted to know about LLC and S-corp's by looking on-line. Just type in the search area, "LLC" and hit the search botton.
You can form a LLC by going the stationary store in you hometown and purchasing the package. Cost is about 28.00 plus the 110.00 filing fee. However, you can only purchase commerical property holding under the LLC. You may be able to transfer your holding into the LLC once the porperty is purchase through private mortgage companies. But you will learn all of this after researching LLC information on line. Happy investing
There are two books I would like to recommend: Form Your Own Limited Liability Company; Your Limited Liability Company-An Operating Manual.
Both books are written by attorney Anthony mancuso.
They will provide you some basic ideas how to form your LLC.
Good Luck to your investment!