3 questions I can not find the answer to !!!!

[Ricky Tann]

Hey guys quick question i may be having a blonde moment but.. 

I'm starting my investing journey by purchasing an LLC in which my hopes are to assign it to an end buyer through bank foreclosures. My first question is, Is it true that the deposit can just be a copy of a check in the company's name and not an actual check ? After I flip my first property using that LLC do I have to come up with a totally new name for the second LLC ? And my third and final question is that I read in order to prevent a double closing one would have to sell his LLC before the closing date but isn't the process of me and the end buyer agreeing to terms and signing an assignment contract considered selling it already ?

Thank you any feedback would be very appreciative as I am a hungry newbie investor ready to sink my teeth in and learn whenever I can

[Bill Gulley]

What are you doing?

Do you want to sell the real estate an LLC holds or are you trying to sell the business with the real estate?

Most investors won't buy LLCs, there can be liabilities assumed buying an LLC.

It's plain silly to start up an LLC to hold property and then sell the LLC and then do that for the next property, WHY?

Deposits in all states are cash or it's equivalent paid to ensure contract performance, never has a copy of a check been considered a deposit, a copy of a check may provide evidence in a file that a check or draft was made as a deposit, it may satisfy administrative requirements for a file, but that is not a deposit until good funds or other assets accepted are credited to an escrow account (in real estate) or to a seller's account, if not escrowed).