All Forum Posts by: Kim Vandermark

Hi all. I'm wondering if anyone has experience using an online legal service to form an LLC in NY? My husband, son and I are just getting started in the REI world and would like to form an LLC. We met with an attorney this week who will charge $1000 for his part, plus we will have other fees (publication, filing fees, name search, delivery of paperwork to Albany, etc). While I respect the expertise and knowledge that professionals bring to their field, this is too much money for us as we are starting out; however, I don't want to be short-sighted and end up unprotected should we be sued down the road. Do the online sites offer comprehensive documents that protect assets and the people involved?

A large part of the expense is NY's publication requirement, so that makes me think that maybe we should file in a different state. However, if we plan to purchase property in NY (but not only NY), will we have to pay these fees once we buy a house here? 

 I would be grateful for any thoughts, experiences or advise. 

@Tim Smith 

Welcome to BP and thank you for serving our country.

We are looking at some properties in your area.

We should talk...

@Andrea Henderson 

Hi! Welcome to BP! I, too, am at the next phase of my life (nearly empty-nest) and have the same intentions that you expressed. Good luck to you and let's keep in touch. 

Kim 

Hi Courtney! Thanks for your reply, sharing your information and encouraging words. Sounds like we are in a similar place with our feelings and experience. I look forward to conecting with you!

Oops, just noticed a typo ...one day having...

Hi BP community members! 

I am just getting started in the real estate investing world after dreaming about doing so for 10 or so years and having spent the past two years taking classes, attending seminars, and reading everything real estate related that I could get my hands on! All this learning and I am still fearful and unsure of taking action, but as is often the case in life, our children can be the push that gets us moving! My son just graduated from college and as a graduation gift, my husband and I told him that we would buy a rental property and make him a partner in that deal, so now we have to finally take some action! This is very different from what I do in my career of the past 20 years (I'm a speech/language pathologist who works with the birth-five year old population) but I am really excited to start something new.

My son introduced us to this site, and I am so impressed with the content, and moved by the number of kind, caring, helpful people I have come across. I am honored to be a part of this community and look forward to one day have valuable real estate information to share. 

Hi all. I have been reading and researching Self directed IRAs and thought I had found the company that I wanted to go with to set up the LLC, but I noticed an ad on the BP homepage and called them and now I am confused again! Does anyone have experience with Broad Financial and Solo 401Ks? Thanks for the help!