Some LLC Advice and Questions

[John Ingram]

Hello to all you fellow entrepreneurs! I have a few questions about possibly starting an LLC. I was reading through some of the FAQs from the stickies in this forum as to not create another thread that was posted 32 times but I think I'm at a lost. I apologize.

I suppose first things first. I reside in PA. The real estate I'm investing will, more than likely atleast for now, will be in PA. I'd like to incorporate here in PA. At first I thought just incorporating was enough for my personal protection. So here's my line of question for you savvy business men and women:

1. Does anyone know exactly how to incorporate here in PA? Now I tried to do this somewhat on my own but I traveled to the Chamber of Commerce, to the Courthouse, to another destination that I can't quite remember, to the county website, and I have yet to figure this out. I know it is a simple procedure. I know it cost about $150. I just don't know where to file any paperwork or find any paperwork to fill out. I kind of want to avoid LegalZoom and website's such as these due to my inexperience but also because it seems cheaper doing it on your own. I didn't think I would need an attorney for a simple LLC but that leads me to my next question.

2. As I mentioned above obviously I'd like the LLC for my personal asset protection. Do I need an Operating Agreement? The only person on the LLC would be me. I suppose to keep things "tidy" I could have one. What would I need to have in order to ensure my protection of my personal assests?

3. Afterwards when I do incorporate I'd like to build the business credit as quickly as possible. What is an efficient way to do this? How soon would a new business qualify for a mortgage? I guess I'm curious and also trying to gauge how quickly my business can get into acquiring capital from investment properties. I was thinking it was something like ones personal credit. Open up about three cards, maybe a secured CD just for the installment line, I'm not sure. That's why I'm asking you fine ladies and men.

I just wanted to say thanks to all those that read and those that respond. It is truly a blessing having a community like this.

Much success!

John