Reasons NOT to Buy an LLC Online | Real Estate Investing | Blog
https://www.biggerpockets.com/blog/reasons-buy-llc-online/
Reasons NOT to Buy an LLC Online | Real Estate Investing | Blog
Have you encountered online businesses offering to form an LLC for you at an extremely discounted price? Tons of sites peddle extremely cheap (or even free) articles of incorporation or other LLC-pertinent documents. However, buyer beware! These offerings are usually too good to be true. Here's wh…
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
Agree with my fellow commenters above. In general, you need to understand that investments is a serious field that requires serious consultation. Facebook groups are a welcome thing for getting general direction and general initial inquiries. But relying here on the advice of commenters and building a business or investment on it is really not serious, dangerous and sometimes even bordering on recklessness. Keep asking, keep advising, but never rely on what is said here, if you want to build solid foundations and a prosperous business, invest in professional consulting with people who specialize in this and this is their job from morning to night. Good luck to the team members?
In general, what this article says is not to open the LLC just because that's what everyone else does, but to get advice on the legal / tax structure that suits the nature of the investment and the specific holdings, and the preparation of appropriate documents.
This is completely true, but it is not only about the online LLC opening services but also about those who turn to the accountant just to have an LLC opened for them without consulting and without adjusting to the exact needs of the investor. (Which is what most investors / entrepreneurs / investor mentors here do)
If you open an LLC to buy a house or two then open online
Agree with the content of the article. As real estate investments in the US develop into international markets, all kinds of entities are emerging that offer such and other services at discounted prices and are based on templates and "what everyone else does is good for you too". Every investor should understand that there are different types of business associations, forms of purchase, insurance and more and although on the face of it they will all look quite similar, the differences between them can determine whether a real estate investment business will succeed or fail miserably.