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Initial Business Setup Question

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Dwayne Drummond

Thread Starter
Sophomore Member
Joined
Jul 11, 2003
Professional Status
Certified Residential Appraiser
State
Florida
For those of you who have both, I would like the Pro's & Con's of having one Corporation for both a Brokerage and Appraisal firm, or two seperate entities.
Obviously, it would be less in accounting fees to have one, but is that amount more than offset by the added liability protection, and flexibility of having serperate businesses?
 

Chrispy

Freshman Member
Joined
Oct 13, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Check your state requirements. Most states heavily regulate the RE brokerage business. I would consider 2 separate entities - keeps state happy, eliminates any suggestion of inpropriety or co-mingling and would be easier to track expenses/income and profit centers. Look at LLCs, may be easier and cheaper[check with state]. And of course - consult an attorney and/or CPA who is well versed in real estate related businesses.
 

maddmims

Freshman Member
Joined
Jun 5, 2007
Professional Status
Certified Residential Appraiser
State
Florida
Seperate. Without question.
 
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