I formed my single-member LLC in California in October 2019 for the purpose of buying and selling real estate using strategies such as you illustrate. THANK YOU FOR YOUR SAGE ADVICE. Now I live full time in Oregon, and want to do real estate investing there. After watching this video and others of yours, I believe my single-member LLC is not the most appropriate entity structure to use. It sounds like it might be more strategic to disband (or whatever word I use to me 'kill') the original LLC and form a new entity in my new home state that provides more protection. Or can I modify the existing LLC, such as having that LLC file elect to file as an S- corporation? (hope I wrote that correctly) Thanks!
If you formed an LLC for flipping real estate but you want to change it to something like consulting, can that be easily changed or do you need to form an entirely new LLC?
I formed my single-member LLC in California in October 2019 for the purpose of buying and selling real estate using strategies such as you illustrate. THANK YOU FOR YOUR SAGE ADVICE.
Now I live full time in Oregon, and want to do real estate investing there.
After watching this video and others of yours, I believe my single-member LLC is not the most appropriate entity structure to use. It sounds like it might be more strategic to disband (or whatever word I use to me 'kill') the original LLC and form a new entity in my new home state that provides more protection.
Or can I modify the existing LLC, such as having that LLC file elect to file as an S- corporation? (hope I wrote that correctly)
Thanks!
Can i add my young son to be a 2nd as a member on a LLC?
If you formed an LLC for flipping real estate but you want to change it to something like consulting, can that be easily changed or do you need to form an entirely new LLC?