All Forum Posts by: Mike Hurney

@Chris Martin
No, I'm saying however you want to set up your LLC is fine but I believe it's the cart before the horse.
I'm hearing protection against frivolous suits as the reason but this is America anyone can sue anyone (or thing) and you could end up paying tens of thousands just to defend a potential piecing.

Two quick questions on a scale of 1-10 (10 being most difficult)
How tough is it for a beginner to find a deal?
How difficult is it to form an LLC?
Actually two more
How long does it take to find that 1st deal?
How much time to setup your LLC?

Thanks, Mike
PS @Nick K Sorry to get off track with Block and LLC formation, Hey Man how's that first deal coming? Kidding, be patient but persistent.

J Scott Thanks J. You could end up with mistakes from a Broker also, despite their training and tests.
TurboTax is great for filing a short form but try calling them when you get that IRS letter, then the joke is on you.

I'm only saying the more you know, the better you are at selecting members of your team and the services you need.

Maybe you should try them again? 90's are a long way back. With your knowledge you should be able to sieve through and find the best preparer.
You could get their free 2nd look on past returns! and maybe have them do your next return. I'm very impressed with their Piece of Mind guarantee, imagine what a CPA would charge to represent you with the IRS or that they'd pay the difference on a mistake.
Thanks, Mike

Hey Nick,
Still mailing? Results?
How about where you live? (Don't tell me you own on Beacon Hill;-)
Good Luck Investing, Mike

DEA agent was telling me recently that there's very little Meth made in the US because it's so difficult to get the ingredients and there is so much cheap Meth made in Mexico.
Mike Butler, a former undercover cop and now national Speaker used to be an expert on Meth labs.

Nick K.
You would not believe how quickly a 1st year law student could "pierce" your LLC and put you up against the wall (hold you personally liable).

IMHO
*After you get a deal....

For $500.+/-/year, that you would've spent on the LLC, you should:
1. Increase your insurance coverage (and get an Umbrella) on the Asset. To cover Liability.
2. Take a Continuing Ed course at your States equivalent of www.MCLE.org To better understand the Laws you'll be up against and screen Attorneys for one actually in Real Estate.
3. Join your local REIA (and let me know which one, if you don't mind?)
4. Go to H & R Block to have your taxes done:
They'll have an expert do your return.
They'll explain it to you.
You can buy "Piece of Mind" option where they'll pay for a mistake on the return and represent you with the IRS, gratus.
They have inexpensive tax courses you can take on Trusts, LLCs, Real Estate, etc.
(It would be rare to find a CPA that would do any of the items in #4)
*Get another, even better deal!
Good Luck Investing, Mike
PS Did I mention get a Deal? As in now;-)

Nick K. Hey Nick, what is the purpose of starting your LLC?

Sean Brennan I've known that Persistence overcomes Resistance but sometimes changing one of your variables might help?

How come you dropped the 600:
Found out they sold?
Ran out of stamps?
Contacted them 7 times with no response?
They threatened you?
Restraining Order?

Good luck investing, Mike

Spent a couple of hours organizing and cleaning, so I'll hit the ground running tomorrow!

Memorial Day - Hey Fellow Investors don't forget U.S. troops have made our lifestyle & livelihood possible.

60 minutes recently covered the fact that 3 million men and women will have been at war in the MidEast for us but there are 22 suicides a day among them. That's almost one per hour. Apparently the transition to civilian life is tough.

If you're looking for well trained and disciplined partners you may want to help a Veteran and in turn help your own business.
Good Luck Investing, Mike

Hey Kyle,
Why did you established the LLC?
Seems like you have a happy family, is it to protect your husband, son and preserve assets?

Hey Paul,
small world.
You do that great sounding deal in Abington with your Dad?
Mike