I thought it would be great if members who have actually registered and set up their REI business would share the steps they took to do that. There are some newbies that have not actually set up their business yet and are still in the research/learning stage. If possible provide a step-by-step actions that were taken to establish your business.
(i.e., establishing a business trade name, is a business license required, etc.)
Thanks.
Verna (newage8767)
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?
HELLO VERNA
HELLO VERNA, HOW MANY MEMBERS IN THE BALTIMORE AREA DO WE HAVE SO FAR? DG members. Thanks
LOVEME
Group Members
Hi lrababao (LOVEME),
We currently have 10 members. We are growing slowly, but surely. If you meet any Baltimore (and surrounding area) members tell them to join the group. I really think it is important that the members in our area communicate with each other about our experiences here. We can learn from each other. Most of us (from what I can tell) are fairly new to the business and still trying to get to that first deal. It is a lot to learn, but we must gain enough knowledge before jumping in head first, and that takes a little time. I spend hours on this site daily ready and trying to gain the understanding that I need to take action, while at the same time, moving ahead to make that first deal.
Welcome to the group. Hope to hear more from you and I'm looking forward to meeting you on the 28th at the meeting.
Verna (newage8767)
Setting up REI business
Sharing -- This past July I actually set up another business (internet marketing) which I registered in the state of NV. I was struggling trying to get that business up and running, spending a lot of money I really didn't have to get a website up and running among other expenses. It was not working out and after 6 months I am really no closer to get the site up and running than I was on day 1. I actually registered the business as an LLC.
In October I joined DM and began learning the REI business. I was previously a RE Agent, but deactivated my MD license about 5 years ago because it was too difficult to do that part-time while I was working 50-60 hours on my government job. So I am a little familiar with setting up a business, but still don't understand all the legal stuff about the corporations yet.
Since I already have an LLC established, I'm thinking about transferring the LLC from NV to where I am in MD and changing the type of business the LLC is doing. I just need to find out if I have to put up a lot of fees to get that done in MD.
I was going to check with the RE Attorney I hooked up with, but I am disappointed with him because I sent him an email over a week ago and he has yet responded to me. Gives me some idea of how he will perform for me don't you think. I'm going to start looking for another one right after Thanksgiving.
Anyone have any ideas for me, my ears are open!
Verna (newage8767)
Hi Verna, ask Anita. She's
Hi Verna, ask Anita. She's one of the member of DG Superstar Circle. Send her a PM. I guess she's one of the few who have lots of knowlege on LLCs or setting up a REI business. LOVEME
Settiing up REI
See my other post about acquiring the forms.
Thanks LOVEME
Thanks for the suggestion. I actually was going to
PM Anita because I remember reading a post from her somewhere that she too had transferred an LLC from NV to her home state.
Hope you had a great Thanksgiving!
Verna (newage8767)
SETTING UP LLC
You can acquire all the necessary paperwork from the Maryland Department of Assessments and Taxation-Charter Division - new business. They are all standard forms and can be faxed in with a credit card.
try www.dat.state.md.us
You may have to hunt around a little for all the forms you need. Expedited service is very fast.