My friend and I are planning to invest in Real estate by buying SFR units in California and renting them. We are thinking about incorporating as LLC since we heard that is the best way to do it. We will be equal partners but will have loans on either of us, since it is not easy to get financing for the LLC.
I have few questions the best way to do this
1. Do we specify the amounts that we have as capital while incorporating the company?
2. HOw are loans handled since they are on individual and not on the corporation?
3. Before we setup an appointment with attorney for incorporating, what are the questions we should be prepared with so that we make good use of their time.
4. Any other things that we need to consider?
5. Does it serve any purpose or benefit incorporating in Nevada but having the rental units in California.
Thanks for help.
I have few questions the best way to do this
1. Do we specify the amounts that we have as capital while incorporating the company?
2. HOw are loans handled since they are on individual and not on the corporation?
3. Before we setup an appointment with attorney for incorporating, what are the questions we should be prepared with so that we make good use of their time.
4. Any other things that we need to consider?
5. Does it serve any purpose or benefit incorporating in Nevada but having the rental units in California.
Thanks for help.