Trying to get some things nailed down before my first investment

[Phillip Roessler]

I am getting my business set up flipping houses. My goal is to invest in properties and either fix and sell them quickly, or rent them for passive income. I have reached a roadblock at my company name.

What kind of key words are good for a fix and flip/rental business? Investors? Real Estate? Home Rehab? Homes Reinvented?

Would you be willing to share your business names (or cool/original ones you have heard of) and how you came up with them?

Thanks bunches in advance!

-Phillip

[Mitch Messer]

@Kenneth Johnson Almost. If ABC LLC is the owner of the property, then ABC LLC should not also be landlord on leases with tenants of the property. Landlords get sued by tenants; it's just a fact of life. If ABC LLC loses a tenant lawsuit, all the assets of ABC are at risk, including the property itself.

But let's say ABCD LLC is formed to manage the property, as evidenced by a written management agreement between the two LLCs. Then, if a tenant takes their landlord (ABCD LLC) to court and wins, there's no prize inside: ABCD LLC owns nothing.

And yes, similar protection could be had by hiring a real estate broker as a property management company.

Anyway, that's my take. I'm not a lawyer and not offering you legal advice. Void where prohibited.