LLC

Or your last name, but make it something that is easy to remember and short to put on stationary, as a website, etc. Maybe your last name, but if it is long or hard to spell for the average person, then I would advise against it. Look around at what others have for their LLC's as well.

have completed a deal or two

Some will tell you to do it NOW,- thats spending/investing in yourself, just like EDUCATION

Until you KNOW this will work out for you...save the $$$$

LEARN 1st

Sometimes the address is good;
EX 123 Main Street LLC

Oh I like that a lot! It sounds like the DMV or the Dept of Motor Vehicles here in Oregon. But easy to remember. Thanks again.

Why would you form an LLC unless you have props under your belt? Even if you have done this before, you should know it is an added expense that will come out of your pocket until you can pull it from your cash flow. Just an unwanted expense you can do without. Just my 2 cents...Jan

Great input, thanks for the advice!
Perhaps Dumb Butt Enterprises for LLC? Just kidding I thought of some pretty funny ones.
We even thought of DVS for a minute until we realized it sounded like "devious"! Not good.
Oh well, back to work. Thanks to all, again.

Relate your business name to something significant, mine is about the first house I ever bought on my own and still own it. At the 3 day the instructors recommended not using your last name.
I am so glad my partner and I already have our LLC in place our first deal came out of nowhere and if we didn't have the LLC already in place we would have missed it costing us passive income of $1500 net per month. LLC's are pretty inexpensive at this point you can get one with basic paperwork for $100.
Good Luck and happy dealing.

Just my opinion, I received a message from the State Department of Ecommerce one day after putting fyer's out at the MOA here in Minneapois, MN.
(Mall Of America). I had my business name on my flyer's and he called my google voice number that was on the flyer.

EVERYBODY USE GOOGLE VOICE, or MAGICJACK if you're just starting out.

Well, anywho, the man asked me, if I had a business by that name. I said to him that I was in the process of starting a REI business, and what could I do for you, I asked. He told me that he couldn't speak to me unless I read a disclaimer that he wanted to email me. I gave him my email address, but not intentionally, I gave him the wrong one. I called back the next day and asked again."What is this pertaining to?

He told me again the same thing. I gave him another email address. It was an old email address and I got nervous and didn't call him back as of yet. Maybe I put a flyer on the wrong windshield and they didn't like it. So I'm thinking if I had an LLC it would be a legit business. I don't know. Maybe I do need an LLC before going further with this REI Biz. Just my opinion.

why would the state call me? they don't know me or my business. i didn't think:o)

Romaluv22
Signing Out,

Perhaps find out what it is about and then post about it here. Someone else here may have already dealt with a similar situation. Just have them send the email so you can see what's up. I wouldn't talk much on the phone until you find out, plus don't stress out, they can't haul you off. It's probably just some info and it may not even be correct, but check on it anyway so you can move forward freely. Just my thought.

It depends on if you are just putting property into an LLC. I see a lot of 452 Main Street, LLC's and things like that for that option. We started with our initials R & W Solutions but moved on to something that looked and sounded more professional; Beacon Investors Group. We have not done an LLC and have instead just gotten a good deal on an Umbrella policy through our insurance company.

And remember that you can do an LLC for yourself much less expensively than going to a lawyer. Do note that it is more than just signing the documents. If you don't follow the rules of having an LLC like keeping minutes, etc. The LLC becomes null and void in a court of law and you have just wasted your money.

Wendy

then if you want to sell the llc that owns the property then do it.

Know How and When to use llc.

LLcs are really misunderstood- MOST of them are NOT set up to protect you or utilize the tax benefits unless coupled with C corp or S corp.

IF you buy/hold, use a "Trust" for your properties

Ask your accountant/attorney!!!

Great advice, interesting idea of having a street name as a an LLC name. Although one I lived on was "Gladys" ! Yikes! My sister used to joke that we should call each other by our street names because her street was Heather ! Anyway thanks again, I hope R.E is going good for you!

Sincerely, "Gladys"

Hi again Mike, your advice on this site is always so helpful. Thank you from all of us. I followed what you wrote about the land trust and looked into it more. Like I said you are a smart one! It's great and I'm asking the attorney/CPA on Monday if I should do that or do both and what the cost to establish either one is and what is the ongoing cost or responsibilities for us. We are deciding about going forward with it because of some of our R. E experiences in the past and then other current situations where it looks like one or both of these would be a good idea.

PS Our son applied to University Of Va, where I think you are. How do you like Charlottesville? If he gets in we may be looking for R.E. there.

Duane & Virginia,

Best wishes for your son attending UVa!

The market is here is Tough!

Median prices $300k.

Big college town with affluent society.

Keep in touch.

Mike