Regarding limited liability: Both LLCs and corps do indeed offer better protection than functioning as a sole proprietor, although as Taz mentioned, formalities and compliance requirements must be observed. 4.

You must make sure that you "respect" the formal legal structure of the entity.

My wife and I recently purchased a foreclosure from a Judicial sales auction.

I'm shooting for a 10%-12% yield and want to focus on non-judicial states.

Once we are doing a formal bid, then we actually do line item estimates based on the specific design or level of finish the customer wants.

The builders will surely make a good profit, but I’m not against that, I just want to be sure I am covered if I choose to pursue a venture with them.It will all be formalized at an attorneys office, and I’ll be the Lien holder until payment in full is made.

As far as education, I am a senior at A&M Commerce here in Texas and just registered for my last 3 classes to achieve my formal educational goal of obtaining my Bachelors Degree in Applied Arts & Sciences.

A formal consult and plan might cost 3K to 5K.Also look at the website "Semi-retired MD" as two doctors describe how they qualified as real estate investors.

Furthermore, they have less incentive to be judicious with utility usage if they know they only have to pay a fixed rate each month.

This is business and business is a formal contractual effort.