A small group of us have formed an LLC for the purpose of investing in real estate; namely single family residences to start. We adopted the name Collaborative Acquisitions, LLC. Initially we will be operating in the Fort Worth, TX area. Due to the fact that we are all working with limited funds thus the reason we formed a group. Teachers such as Dean and others say the best way to get started when you have limited funds is to concentrate on Wholesaling. Therefore this will be our initial area of interest. In view of the fact that we will need minimal amounts of earnest money for deposits on properties we will establish a checking account with our chosen bank the end of February. I have contacted some real estate agents and informed them that we will intensify our offers on properties the first week in March. We will continue to study and lay groundwork.
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Roy just know that
when you have an entity with others that you are all liable for anything the others do, whether you agreed or not. I am not an attorney, or professional and so don't take this as legal advice, but you may want to check with your attorney on this.