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Updated about 9 years ago on . Most recent reply

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13
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Mary Newman
  • Kansas City, MO
3
Votes |
13
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Steps before finding deals

Mary Newman
  • Kansas City, MO
Posted

I've got the basics down on how a wholesaling deal works but I have a few questions on the steps before even marketing to find the deals. Do you have to register a business with the state, if so, what type of business? Can you use a fictitious name? Can a wholesale deal be done under your own name or do you have to use a business name? When it comes to dealing with the contracts, do you have to have a tax ID .. etc? Any insight helps, thank you! I was looking to use LegalZoom to handle all of the paperwork and filing of a new business but want to make sure I'm going the right route. 

Most Popular Reply

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1,871
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1,458
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Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
1,458
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1,871
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Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
Replied

@Mary Newman You don't need a business. You can only use a fictitious name if you register a DBA (doing business as). For instance, you could register Mary N Buys Houses. But I would recommend just using your own name. You do not need a tax id.

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