I have a leagle corporation and property management business in hampton va. i am from here, know the area well know lots oi the people in the area and all standards of living.

You can go through the dept of corp or the DRE.

Two other points.1) In 1980 the American auto industry was doing quite well.

Good old American entrepreneurship.

It depends on your appetite for investment.Too many other less risky properties with excellent returns nationwide to pursue this type of stuff.Some people love it.I know developers still building with Go Zone in New Orleans.When it's about Government and money it will be a long drawn out ordeal.The Government takes payment fast and pays out slow.It's the American way>>>>>>> :)

solid advice tin....i'll work on being a leader...but i just couldnt' lead myself to the answer you wanted, and based on your last thread, that was such a hit, i assumed you already had the answer in mind...to answer your question, you shoulda first implemented strategies to prevent this...corporations, trusts, LLC's...lots and lots of insurance and umbrellas, etc.

It may save you 10% in hard cost, but it also costs you your time that otherwise could have been doing some other productive money making chore.Not if you give up playing Warcraft online or watching American Idol to do it.

Also, wholesalers typically use OPM so if you plan to fund the deal yourself Jacob, the selling of the entity strategy is a non-issue but if you plan on using OPM it may be better to add your buyer to the corporation as a money partner and have an internal corporate legal agreement about how your wholesaling fee will be paid.

I've come to expect the .5-2% management fee on typical mutual funds, depending on their investing style, but my wife's investment "advisor" seriously expects me to redeem all the shares I have in no-load mutual funds so he can invest the proceeds in American Funds (5.5% front-end load!).

To my knowledge, there are no state or federal laws prohibiting them, however, the problem exists with the title companies. many of them will not insure or perform a simultaneous closing (where dry funds are used) as they have instituted corporate rules.