Do you recommend registering as an LLC early on?

Apartment Investing, Multifamily Investing

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Todd Heitner

Do you recommend someone fairly early on registering an entity like an LLC or something like that? Or like at what point do you think they should think about that?

Ellie Perlman

You know, you can create an LLC. It’s not one of the first things that I would do because it takes time until you actually have any income. You can do that. And then you can use an online service. It’s not very expensive. The only caveat is that sometimes as you think about the business and as you understand the goals and the branding, you would you might want to rebrand it. So, you can have an LLC, but then you can update it as doing business as DBA. So if you have, for instance, a company called High Performance LLC, but then you think that “Wait a minute, I actually want a position, you know, I want to create a different branding” then you can basically update the brand name, but it’s not expensive. You can do it, especially if you are going to have an income right away or if you want to present something on your website or anywhere else that you go. So I mean, it doesn’t hurt, but I wouldn’t focus too much on it.

Todd Heitner

Yeah, I can see where it kind of makes sense to think through things and be sure of kind of the direction you want to go maybe before taking that step, because you could end up doing a lot of work that you have to redo later if you change the direction. So yeah, that makes sense.

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