All Forum Posts by: Marie G.

@Account Closed thanks, if I would decide to do that. I would know the risk upfront

Congrats....where are your SFH located? What type of limitations did you notice?

@Gladys Figueroa-Toledo No problem, its a lot! I don't want to use my personal address for privacy. I was considering a P.O box (although you can't for MD) or I see that UPS has it's own mailing address to use (for a fee).  As for changing information MD charges $25, but an agent can resign for free. The agent is the person notified if you get sued.

http://www.wikihow.com/Form-an-LLC-in-Maryland ---this was pretty cut and dry.

http://dat.maryland.gov/Pages/sdatforms.aspx ---you can find the fees when you open the forms

@Russell Brazil thanks. Would they only get notified when it is moved into the LLC?

Thanks that is really helpful. I was thinking big picture for the loans as to not tie up my credit for the global debt service. If I purchase in my name then transfer to LLC are there any consequences to that?

So I have done a lot of reading and listening to audiobooks, podcasts, forums, etc. This can be so overwhelming. I was wondering if there was anyone local that has any pro/cons from their experience with LLC formation and how it affects financing, asset protection, etc. for Maryland.

I'm looking to have two LLC for my husband and I (I read about the 10 loan max and want to maximize on funding options). So far this is what I have gathered/have questions on:

-From the Legal stand point--- The multi member LLC seems to have the best protection since its not a pass thru entity and seems more like a business.

-Financing- the banks I have spoken too I must personally back loan (until the business has been established for 2yrs and the income can stand alone). They consider any member holding 20% or more interest of the LLC (I would then do 81/19 % for each). They don't really refinance investment properties for cash out options (unless you finance in your name then sell to LLC)---which how would that affect you tax wise as far selling the property. Is it like you have earned that money as an individual?

-LLC Formation- I'm looking to go to court house directly to get it same day. Do you include your Operating Agreement in filing as part of the initial formation? For the LLC address do you have your primary residence? If not what do you use? Any recommendations on programs that generate operating agreements? Purpose of LLC- is Real Estate Investing to broad?

This maybe long winded, but I appreciate in advance any pointers everyone has!

Thanks that is a great suggestion. Although I am so eager, I don't know that I can stop at one....lol

Sorry I am new to this...just playing catch up.

 @Ayodeji KuponiyiThank you....yes so much information it can be overwhelming. It's great to have so much support

@Ned Careythanks yes there are! It's funny prior to me getting on BP. I had came across your blog before. Great blog btw!   

@Sydney Hall thanks. Staging that is awesome! I don't have the designer eye for that. Dc to California is a trip, I hope you are enjoying the change of scenery

@Account Closed I don't no that I'm further ahead, but it's always great to see different perspective. Rosedale is local! I definitely will

Welcome to BP. I am also new to investing. What area are you looking to invest in? What type of properties (single family, multi unit, etc) .....It can be overwhelming with all the great possibilities of real estate. the BP free course is a great start. Definitely good to start here on BP before spending upward to tens of thousands on some of the real estate training programs out there...

@Paul Timmins...Thanks for the information. I will check it out.

@Angela DeBorja Thanks yes that would be nice! I will have to see when their next meet up is. Do they do a lot of sales pitches?

Hi @Brittany King... no meetings yet. I wasn't sure which one to go to. Which ones do you like/recommend?