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What’s the best legal entity to buy a property in?


Q: What’s the best legal entity to buy a property in?
-Scott, Georgia

A: In my opinion, an LLC, which stands for limited liability company is the best legal entity to buy property in because LLCs provide both liability protection and tax flexibility. In addition, I’ve found LLCs to be easier and cheaper to set up and maintain than other legal entities. Owning an LLC will require you to adhere to certain corporate formalities like preparing meeting minutes on a regular basis. As I said last time, it’s also a good idea to consult an experienced CPA and real estate attorney before you make a final decision. Thanks for your question, Scott. Good luck. For more real estate tips and information, visit performanceproperty.com. I’m Gerald Lucas and I’ll see you again soon.

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