Home: Message List - LLC or Solo Proprietorship?

Re: LLC or Solo Proprietorship?

dublincpa — Sun, 03 May 2009 18:41:05 GMT

If this is a debt ceiling imposed by the bank, it won't likely help you to form an entity. Unless you have significant enough down payments that you have non-recourse loans, the bank's limits will likely still apply to you as guarantor.

What limit exactly are you attempting to circumvent by forming an entity?

Re: LLC or Solo Proprietorship?

instantv — Sat, 02 May 2009 19:21:32 GMT

The first point I will make is that as an LLC you will project your personal assets. Whereas as a sole proprietorship should you have legal matters your personal assets can be very much at risk. There are many additional advantages for forming an LLC over being a sole proprietorship but without knowing more about your situation the most I would suggest is for you to go to this link: http://sbinformation.about.com/od/ownership1/a/soleproprietor.htm and consult with an attorney.

LLC or Solo Proprietorship?

goldenshield — Sat, 02 May 2009 18:37:08 GMT

I want to form a corporation to which I can transfer real estate properties. The solo purpose of this corporation is to release me from the mortgage-backed properties limit, so I can finance more properties. Is there anybody can explain which one is better for me, LLC or Solo Proprietorship? Thanks