How to Start Your Own LLC or Corporation (It’s Easier Than You Think!)

As most real estate investors know, there are a lot of “little challenges” to overcome when starting a new business.

If you’re serious about taking the right steps in the beginning, one of the first things you’ll want to get squared away is the legal formation of your business entity.

Most real estate investors (myself included) own their properties under the name of an LLC (aka – Limited Liability Company) and there are a few reasons why:

- An LLC can protect your personal assets from business-related lawsuits.
- An LLC has tax advantages that allow for “pass-through taxation” (whereas most other corporations are double-taxed).
- An LLC offers instant credibility with many of your customers.

Now let me be clear... I'm not trying to advise you on what type of legal entity you should form for your business. I'm not an attorney or an accountant (and even if I was - I have no idea what your goals and business objectives are). I'm not saying that you should copy what I'm doing in the instructions above, I'm just showing you one of the many ways it can be done.

Forming your own corporation may sound like a complicated legal process, but it's actually quite simple and you can do it in a matter of minutes.

With an online service like MyCorporation (see above), you can avoid the mind-numbing minutiae of trying to figure out the process in your state AND save yourself hundreds of dollars by allowing them to walk you through the process.

An alternative option is to hire an attorney, since they can give you the best advice and make sure everything is being fine-tuned to fit your situation, but if you're on a shoestring budget (like I was in the beginning), a service like MyCorporation is probably your next best option.

Here's a quick overview on how to do it... #realestate #retipster #sethwilliams #realestateinvesting #landinvesting
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Current comment:12   Visitor  12   Blogger  0

  1. KoolCrushQ 1

    ShouldI put two of my children down along with my self as owners and my other two kids as employers. The youngest is 9 twins 13 and oldest about to be 15. Thanks for the video and reply.

  2. Houston Area Home Cash Buyers 0

    Hey Seth, thanks for the providing the detailed video, it helped us get right through the process. Do we now wait until we receive the LLC paperwork from the state before completing the EIN setup?

  3. Dillon Healy (FlyBlimp) 0

    Did I miss the part where you can get a free EIN from somewhere else?

  4. Christian Riatiga 0

    any body know how resaling process work example buying from one person company and resalong at my price to another company example corn husk , i dont need to warehouse right becaise its similar as export and import and plus i wont buy much just starting with one pallet im in illinois help plz

  5. WillC3015 1

    this was pretty helpful to me. thanks for the video brother.

  6. Kevin Posey 0

    also if i have already reserved my name thru the state will the website kick that out or can i just enter it with no problem

  7. Kevin Posey 1

    hi seth just found this video looking to start a llc for a foreclosure and rental property de ris removal company. what do i need to get my llc..

  8. Theodor Kittelsen 1

    Excellent video, but I'm still wondering what are the pros and cons of investing in Real Estate with and without an LLC?

  9. Jason Darrough 0

    I have a overall company name I want to register for my LLC but I have smaller companies within the business. Example: BRADLEY's ENTERPRISE LLC has Bradleys Choco-Bites Cookies, Bradley's Coloring Books and Bradleys Shoot for the Stars Modeling Agency. Do I need LLC's for each or do I register them all individually as Business names?

  10. Sasha Kelly 0

    So about the Registered Agent Services; what is the extra work involved if you opted out of it? Also, is there a difference in the EIN that you could pay for or get free outside of the price?

  11. IamE0N 0

    For all the things you're choosing not to do or to do yourself I'm not sure why you wouldn't do this completely by yourself.

  12. JesusChristNeverLived 0

    Very useful! Thanks