When Should I Become An LLC
I have three properties right now and I am working on three more for sure, possibly four. When do you think I should become an LLC? Am I getting to the point where I should become one? Do any of you advise that I go to an attorney to start this up or do it on my own? Thanks.
Dunno about Wisconsin, but Minnesota has a very easy LLC process, costs $135 per LLC. I've formed two single-member ones so far w/o any attorneys (though they are recommended for multi-member LLCs especially), and I own property in them now. No problems yet, but then I've only had them for a few months.
You might check your Secy of State's website to find out the process and cost. Whether you use it/them right away or not, LLCs are good to have in advance. Once you get one, go to IRS website and get an EIN for it, free, and good to have now, before you need it.