All Forum Posts by: Account Closed

I am also interested in checking those out! Thanks! 

Couldn't creating an llc out of state potentially cause issues in the sate I do business in due to differences in state laws? 

I do not have any other businesses currently. You said put the land trusts in the llc... from what i read it seemed like each property would be listed as its own trust and the llc would be the trustee or the beneficiary.  I forgot which one. I would have to go through my notes. Is that what you meant? Correct me if I'm wrong.

As far as the time I'm fairly free enough to answer some calls but it could get too overwhelming so that's something I will have to think about. I do have possible access to family lent money with no interest tacked on but I don't really want to go that route. I'm not a fan of mixing business and family/friends. I would give interest in return regardless if I went that route. I could probably buy and cheaper house cash and have enough to put some into it, then flip. I have a lot to think about it seems.

Awesome thank you! I do not have an LLC yet. I was trying to do research in what the proper llc would be. I keep seeing llc taxed as an s corp. That is why I wanted to talk with a lawyer and a cpa to see what the proper route is for me at this time. I also read quite a bit on using land trusts when doing flipping properties which is my goal after getting my feet wet. I don't know enough about that stuff yet. I would rather not have stuff in my personal name when it gets to that point.

Hi I'm new to this site and just doing research on getting into real estate investing.  I've bought a couple of books and listened to hours and hours of youtube videos on different angles of career opportunities. I have also been listening to the bigger pockets podcast.  I think i am going to start off with wholesaling. I have quite a few professionals to reach out to if needed such as CPA, real estate agents, contractors and some others. Not a lawyer yet. My question is does anyone have contracts and adendums I can proofread and look over to get an idea of what is needed before I see a laywer/cpa about what I need to do deals in Michigan? Any help is appreciated! I'm just working to get where I need to be before stepping into the business. Thanks!