Why Form 8655 Pros 2024

A bigger pocket, it's Matt. So today, we're going to talk about a question I see all the time on the forums, and it's even beyond LLCs. What are they and everything like that? Should I form an LLC for every deal? This is a lot of people asking this question. Should I form an LLC at all, right? Well, yes, first answer to that question. What is an LLC? A lot of the basic stuff is out there on the forums and other articles. We're going to talk about forming an LLC for every deal you do and why you should and one should. I-5 pinyin on this, I'm sure you see my opinion come out, but there are schools of thought on both of them. So let's review both schools of thought, and we'll get into what I think about it. The reasons why you absolutely should is if you've got different owners. That sounds like a simple thing, but let's say you buy property A with you and your brother, Juan, and you buy property B with just yourself or you and your wife, or you raise an investor that comes in and provides some private capital in your deal. All those three scenarios are all different setups and different ownership. You should definitely have an LLC for each of those deals that has a different ownership breakdown, different percentages, different builder benefits, different owner rights and responsibilities, roles, goals, and consultation, and all that for each owner, for each LLC. The operating agreement for the LLC will define all of those things. Yes, absolutely, if you have different owners. Right now, you don't think about this, but this is a good one. If you are doing business in multiple states, okay, states in the Union, in...