LLC /Crowdfunding

[John C S.]

Hi BP Family I was wondering about the costs affiliated with a LLC, and what is the best way to set one up. Meaning should I go through a lawyer, accountant etc. or would legal zoom be good enough. You see I want to try and use crowd funding to raise money for bigger apartment buildings deals in a up and coming area I like. From what I under stand in order to do so you have to be a registered LLC to get crowd funding. I don't have much capital at the moment but I'm not going to let that stop me. Where there is a will there is a way.

I also hear that Texas is the best place to register a LLC. Is that true and is that necessary at this point. I have been a member of BP for about a year now and I have learned a tremendous amount of information your average mom and pop investors never heard of or thought about before, and think that is what separate's the different levels of success there are in the real estate business. Although I am continuing to learn I feel I am ready to jump in and get my feet wet. I also have 15 years experience in building maintenance. I feel that gives me an edge as far as the daily operations of a larger building. I am currently working at a million square foot building in NYC.

            I would appreciate your thoughts your comments and your advice on this subject. Please feel free to PM me. Also feel free to ask me any questions you may have about building maintenance or the daily tasks of a building or its maintenance crew. Thank you for your advice and for taking the time to read this post.

[Michael Fortier]

Howdy John

I just listened to podcast 109 and it deals with asset protection and forming LLCs. You may want to listen to it, I thought it was very helpful. I'm sure you will get many replies with more helpful advice from more experienced investors than me. Good luck