All Forum Posts by: Paula Shaheen

I'm a realtor in the hot market of South Florida. My husband and I have someone willing to fund a cash purchase of a home here, we oversee repairs, and flip the home for a profit. Basically, they put up the money and we make sure the work is done and handle the buying and selling. Profits are to be distributed among the parties as agreed upon. 

We identified an REO property and need to submit a highest and best offer by tomorrow afternoon. We have a proof of funds, but only in the funder's personal name. I'm not sure we have time to create an LLC with all 3 of us, or maybe we do so that we can show articles of incorporation with the offer?

Time is ticking, but we really want to purchase this property as it has a lot of potential. Any advice as to what we can do to make this work?

Thanks in advance. 

Good news. Our private investor is willing to partner with us and fund the deal.

We are working on our first deal, and are confident we found a great property. We've submitted the offer, and the REO team asked that we also provide proof of funds. We have not yet funded the LLC, and were waiting to do so from our private investor and hard money lender once the deal was locked in.

Our hard money lender is willing to give us a proof of funds, but wants to see the first page of the contract.  Maybe I'm overreacting, but since the deal is not yet ours, I am nervous to give this information to anyone.  Or is this standard protocol?

Your feedback would be appreciated.

Thank you everyone for this great advice!  @Andrew Cordle - I'm a former marketer and worked in the branding world for a while, so I know exactly what you are saying! I wanted to make sure it was possible to break it down like that (more generic LLC name, and then brand under something more creative and memorable), and your answers tell me it is. I'm eager to get going. Thanks again.

We are just starting out as investors, and want to focus mostly on rehabbing and wholesaling.  

It's time to set up our LLC, and we need a company name. I've read quite a bit about it, and it seems to me that it is better to use a more generic name (I was thinking simply PPS LLC), and use a DBA if we want to be more descriptive. What should the domain for our website be in that case?

I appreciate any advice those of you who are more seasoned can provide on this subject.