I've always been a firm believer in using [multiple] LLC's under a S-Corp to maximize protection and tax benefits.EVEN if it's a complete waste of the $250 [to pay a professional] to setup the LLC, you only lost $250 plus a few dollars a year to maintain it.I seriously doubt The Donald has Trump tower in his personal name...

Glad you could come last night @Donald Baptiste .

You May have been to a Guru seminar if..........You believe brokers will continually submit deals to you although you have no capitalYou believe lenders look at the property ONLY when considering whether to lend you money, so that your multiple bankruptcies, credit score of 490, and $80,000 in credit card debt won't matterYou think that commercial real estate sellers will accept post dated checks for $100 as sufficent earnest money.You believe no seller is sharp enough to see through the numerous “weasel” clauses you put into your purchase contractsYou are persuaded that the only difference between a $1000 transaction and a $1,000,000 transaction are the amount of 0'sYou believe everyone who critsizes your plan is jealeous and wants to see you failYou believe that 20 years of hands on experience, a four year college degree in real estate and yearly mandatory education seminars can be trumped by the “intense training” 3 day seminar you just paid $7000 for.You believe that the $7000 you just borrowed on your newly increased credit line to pay for that seminar is an “investment”You can't believe people actually wasted $80,000 and four years of their life learning “useless” information in collegeYou believe assembling your real estate “team” is your key to success and a necessary first stepYou believe you can actually contract with the best “players” in the industry although you have no experience, capital, or track recordYou believe that once you find the deal that fits the formula money will come to youYou believe that your Guru has provided you with exclusive information on how to find “bargain” dealsYou believe one in a life time “steals” are an everyday occuranceYou believe you can be successful working “the system” on just weekends and holidaysYou believe the Guru got rich by actually doing real estate deals rather than by using a slick promotional sales and training systemYou believe the personnel provided to assist you are actually real estate investors who actually have experience and knowledge and aren't just some failed salesman reading from a scriptYou believe you're the first person to think of using BiggerPockets as your source of wholesale leads or to build a buyer listYou believe wholesaling is investingYou think the term is “whole selling” not wholesaling.

So, we are in total agreement, I do see the marketing aspects, site activity, but at some point I'd think ethical presentations trumps a few more clicks.While the poor information sparked more activity in this thread, I and other could be spending our time with more educational matters, like getting into creative transactions that are legal, but can't even go there due to all the fires started with bad info.

Even if you have an AOM recorded before me giving you priority in Filing, I have Automatic priority by possession and trump your claim.And if that wasn't confusing for the kids at home.

Donald Trump might make a killing, but the rest of us won't.  

I'm not trying to stock pile cash or be the next Donald trump. : ) To the point/goal.

Donald Trump), but I want to learn the lessons of those who failed or almost failed as well.

@Donald Crockett welcome to the site.

Originally posted by @Donald Hendricks:How is that the lender says you can cash out refi at 70% LTV on a $120,000 house with an $11,206 balance due on the original loan, plus $1793.79 in fees equals a cash payout of $48,999.79.