In the next few weeks, I will strategize a game plan for enacting my first wholesale deal. My goal is to finalize a deal within the next two months or so (realizing I will experience and learn a lot in this time frame).
As for now, I don’t plan on setting up a LLC and will do this as a sole proprietor dba XYZ (to be determined). I know the risks (book worm-wise) of a sole proprietor vs. LLC. However practically-speaking, what are my true risks in simply enacting wholesale deals and/or bird-dogging in this manner? Should I rethink this initial strategy?
The idea is to do some deals before establishing my LLC. From there, those potential profits can then pay for the costs of establishing my LLC and covering other necessary costs that I have in mind. Any thoughts from you seasoned veterans out there?
Also noteworthy, I am taking note of all you rehabbers out there for when I have a deal in hand (seen in recent posts). I live in the 76116 area code, so my farm will be somewhere near this area.
My current contact information is mandj14ip@att.net at 817-907-2107. I am still working heavy hours, so I am usually in the office. If calling, please leave a message and I will return the call as time permits.
Sincere thanks,
jg
