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working on LLC

February 2nd, 2016 | posted by Duane Libby

Well, today I've started to apply for my LLC. Still tweeking my business name. I talked to Craig re; working with me as my general contractor, doing walk through's, and being my job coordinator. He lives in st Augustine, where I'll concentrate doing my early deals(closer to home). Later deals will take advantage of (hopeful) future military build up in Jacksonville Florida (if we elect a good next president).
Craig agreed to help me "get first deal(s) under way, and start collecting his deserved payment when the first home is bought and funded for rehab, I have worked for (with) him for several years, He is a good man who I trust for his honesty and good christian values and work ethic. I'm still building my buyers list and studying hard. I have gotten Rehab Valuator, Thanks Mike for the link, I love it and am sure I'll profit from using it. I am surprised at how well I'm retaining what I read. I praise God for my progress! And I thank my DG family for all their help, I love y'all!

On 2:32am, February 2nd, 2016 aaron-n-suzy said:

Duane

aaron-n-suzy's picture

Sounds like you are off to a good start. Don't put your biz name with your llc that you buy props in, the purpose of an llc is so people don't know who owns the llc to protect you from a lawsuit. Im not a pro this is just my thoughts.

My biz name is the same as my email, looks good on my biz cards and my llc is totally different and my free google voice number is simple to remember.

You can do it

_____________

Aaron

On 2:53am, February 2nd, 2016 Duane Libby said:

Thanks Aaron

Thought my business needed an llc, and each property needed its own, use address as name for it. Or is that only for buy/holds that you rent out? Its a lil confusing, Thanks, Duane

On 3:30am, February 2nd, 2016 aaron-n-suzy said:

Duane

aaron-n-suzy's picture

Register your biz name so its yours! The reason people do the llc and address sell is to get around the banks not wanting to assign, the name stays the same but the llc is sold to new owner.
Buy/holds will go into another llc that you keep, I know it sounds crazy but you can have more than one.

Aaron

On 20:10pm, February 2nd, 2016 Duane Libby said:

Thanks Buddy

For clearing that up for me. I'm thinking I'll concentrate on rehabs and the assigns will happen along the way, as in why pass up the chance to make some money passing them along to rei's I meet at investor clubs etc., buy and hold types may like the ones that don't need rehab? Is it fairly easy to sell the llc with the property? I sure am throwing out a lot of questions, your help is greatly appreciated! Thanks again, Duane

On 2:40am, February 3rd, 2016 aaron-n-suzy said:

No prob

aaron-n-suzy's picture

I like rehab buy/holds I have had a few in my time not a lot that's why im here! Wholesale is something new to me and I seem to be struggling with it but I keep learning and taking action.
I haven't ever sold an llc that way I have only heard about it from an experienced person, I don't have the experience to answer that, this site does tho, post and ask.

Aaron