All Forum Posts by: Ericilda Witherspoon

Will a hard money lender lend to two separate LLCs that have decided to purchase the same property? I'm going into business with someone and we both have our separate LLCs. We decided to work together but wanted to know whether or not hard money lenders can have two LLCs on one contract.

@Jason Vo No. I don't think so. .Doing Business As? I have to really figure out what the best way is. It would be easier if I did it myself.  Thanks for your help. 

@Michael Plaks Thank you. Trust me I've already thinking of that. Someone told me about us both having an LLC and doing it that way. We already have different opinions on if we should start a passive income or start flipping first. I say flipping first so yeah... we work well together; but once money gets involved I can't say there won't be issues.

@Michael Plaks Thank you. Trust me I've already thinking of that. Someone told me about us both having an LLC and doing it that way. We already have different opinions on if we should start a passive income or start flipping first. I say flipping first so yeah... we work well together; but once money gets involved I can't say there won't be issues.

Thank you. What if we both eventually go our separate ways and do our own business would we have to dissolve that LLC ? I'm trying to create something where we are under an umbrella. Is that possible? Is it a series LLC?

Thank you. What if we both eventually go our separate ways and do our own business would we have to dissolve that LLC ? I'm trying to create something where we are under an umbrella. Is that possible? Is it a series LLC?

I am going on a joint venture 50/50. We want to start an S corp and LLC . We will eventually branch of. Please explain to me exactly how that works. If we create an S corp would we then individually create our own LLC? I would call my LLC ...and she would call hers something else. If and when we decide to go our separate ways, would we then create our own Scorp? If I am completely wrong please let me know. Thanks in advance.

I see the percentage ranges from 5% to 25% my question is....is this based on the 50% rule? I'm a newbie and Im wondering why the numbers are so different. Im thinking that not everyone uses this rule. Thanks in advance.