LLC Benefits

LLC Benefits

Does anyone have any information regarding starting up a corporation or LLC in order to buy real estate? I have lousy credit and I've heard you can start a corporation or LLC to establish good credit (for the corporation) and then buy real estate. Is this true? Does anyone have any input on this or can point me in the right direction of where to get more information on this subject? Thank you.



I am just 3 weeks into the program, so I am in the learning phase. I was wondering if you would mind sharing the information on the company you utilized to form your LLC?


Rick C.


Do today what others won't, so you can live tomorrow like others can't!!

Should I terminate my LLC? - TIME IS OF THE ESSENCE!

I hope someone can suggest what I should do about my LLC (any attorneys out there?)

I originally decided to develop an internet business and I registered my business is NV because it was cheaper than MD. The company that helped me do that explained the differences between the requirement for different states such as NV, WY, MD and DE. NV's up front fess were more than the others, but I don't have to pay it again every year, plus they don't charge all the taxes like MD does. I set up a Series LLC that would allow me to have several different website businesses under the same LLC umbrella. I also pay a monthly fee to maintain a resident agent in NV. I recently learned (which I was not originally told) that if I do anything in MD like set up an office or do any actually business, even over the phone, I had to establish a foreign corporation which would require me to register and pay also in MD.

I was thinking of just changing the type of business I do under the NV LLC, transfer the LLC to MD and use it for the REI business. However, after reading all the posts about LLCs I'm not even sure I need to have an LLC right now (but it may be better to have it). It seems to me that I would be better off to terminate the NV LLC and establish a MD LLC (or someone said do s-corporation with an LLC under it). IT makes no sense to me to pay in both states. Can anyone give me any suggestions about this.

Also, another company was suppose to educate me on how to create my website and get it going, but I'm not really learning anything with them. I've been with them since July and I still have been unable to create my website. The company that registered and set up my NV LLC also have the CPA available to do my taxes at the end of the year. I just don't know if I terminate the NV LLC and haven't done any business by the end of the year, will I still be able to claim all the business expenses I have getting my business set up. I thought that if I at least had a website up and running by the end of the year, it would show that I am trying to do business even if no money has been earned.

Just what kind of taxes, fees, etc does MD have to set up a LLC or S-Corporation?

This may have been a little wordy but I would really appreciate if the members could respond to this post.



Always striving to move forward toward better times!

Verna (newage8767)

thanks family

Thank you family for your questions and the powerful advise that was given. I too am interested in changing from a D.B.A. to an LLC... I now have a fresh prospective about moving forward with it. I'm still working on my first project and think I'll wait before I jump into that arena. Time and wisdom are my friends. Time to keep working towards and completing my deal and the gathering of wisdom I get from staying connected to this family. Thanks again


inc or llc

in real estate investing which is better to use starting up inc or llc

Setting up an LLC

Setting up an LLC, or other business entities can be such an advantage to any real estate investor. The tax benefits, and the asset protection alone are two huge reasons to do this as you are getting started. As with any legal issue that is related to your future business, you should always seek legal advice. As states have different laws, finding the right business entity for you and your specific situation will be very beneficial. One thing to consider when setting up an entity, make sure that you consult with representation who has experience in working with Real Estate investors. That way you will be able to get the right type of entity for you and your situation. Remember, laws are different from state to state regarding corporate set up so you want to make sure that you have solid representation to assure yourself of getting a great start to your new business.


is it good to work with person that has a LLC COMPANY FIRST .JIMMY

land trust?

is this the same as a business trust? either case, doesn't it cost for the entity and then again to put it into the LLC? maybe better to skip a step and into the LLOC directly?

LLC Cost in different State

How do you find out the cost for the LLC in Georgia?

wmark1963 wrote:
jrgnsn wrote:
I pay $800 per year in Ca to the state for having an LLC. It must be different in different States?

Yes.. every state has different laws eg it's 125 in NV.


Thank you for that info. Legal zoom told me something similar.

Beginning LLC

I planned on starting an LLC next month also. For the fact that If I get sued I wont lose everything I own, and also for the credit to make some starter investments. But I guess theres a catch for everything. Now I know that I cant just waltz into a bank and walk out with a business loan like that.

So I like what nstreet said and Ill have to try and establish that credit for the company through smaller loans. I didnt plan on waiting that long to get started but Its all good.

So, whats the hassel with putting properties under your companies name?

LLC / corps/loans

You can get loan through an LLC or Corp but it will be better to get an aged corp and get funding..

Thats what i did and thats all i use to get funding to use on all my deals...

And a corp is better more coverage than LLC and better if you dont have a partner...


Only good to protect yourself from liability. It's the same as incorporating, but geared more towards real estate businesses. In any case, forget about getting a loan in the LLC's name. Banks are not dumb and want assurance. They know that the LLC is just an entity set up for the purpose of protecting the owners. If the owner decides to default, then who is the bank going to go after?

Banks want real breathing people with real assets to loan to.

New comer

I am just getting started in this business as an investor. And I am learning so much from you guys. Just being on line, reading all the information, that is being given is a learning tool itself. Many of the questions that was on my mind, are being answered. You guys are great teachers. Thank you for being willing to share this information.

Look for the secretary of state

You can contact the secretary of state at Georgia.


"Don't compare your life with others. You have no idea what you are getting into."
"No compares tu vida con otros. No tienes ni idea de lo que se trata tu travesía."


If have LLC in Washington, DC and i buy properties in Maryland or Virginia, Can i use my LLC?





Yes you can buy properties anywhere with your LLC.


Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."

You don't need one if you are wholesaling

I think some people get overwhelmed with needing one or not needing one, I was there too. With wholesaling, I don't think it is that important. You are not HOLDING property so there's not much liability. I was looking into an LLC more for tax purposes but I realized that all single member LLC's get taxed like a sole propriertor. Just worry about learning the business and getting something done, than worry about an LLC. I am not an attorney so don't take that legal advice, just my opinion.




LLC Benefit

Thanks for sharing your information I am just getting started,
and the info. you gave will be very helpful to me once I get to
that point.


lines of credit for llc

One great company to start credit with is Harbor Freight Tools.
Even if you don't need the products, they will allow you to set up an account with your business name. Nice place.
And get your llc a Sam's account too. It's easy to get a memebership under the llc name. After you buy a couple of times, apply for a small line of credit, under $500-buy a chair or some office equipment.

Good Luck!

Hard Money Lender

I need a hard money lender for Texas. I have a property appraised at $35k and the owner is motivated to sell it, and wants cash right away.


New Tenants and Property Managers

Hello Friends-

Thought I'd share this with you---Check it out:

A property manager in Arkansas told me that they were having problems with bad tenants and the police. So they came up with this idea.

Have all potential applicants go to the local police dept. and get a background check done. It costs a small fee, and usually done in a day. The applicant brings that printout back to the apt. manager, along with months rent,
and references/application and they get to move in.
Deposit is waived for quick move in.

This is a win/win situation because the cost of the backgound check is covered by the applicant, the property gets a good tenant, and everyone knows their new neighbor is ok.

Caution: This method works well depending on location. Small towns may be the best.

Good Luck!

LLC Buying Properties in Different States

The correct answer is yes, but....check with the state and make sure you don't have to register your LLC as doing business in that state; it won't be the same as creating an LLC, but you might have to pay a small fee, say $30 to $50 bucks. Just check, each state is different.


Just a question for anyone out there.
In my situation I have to start flipping
because of my financial position.
I have the Foreclosure can I pull the houses and
find a investor and just flip until I have some funds to buy.
I am in Jacksonville Arkansas is there anyone I can communicate
with. Can I put up my e-mail address.

being sued

Nice way to layout the shield of an LLC. I am new at this, but I am going to unleash when my time comes. I would have to agree with you that "millionaires own nothing rather control everything". This is my approach as to becoming a REI. I am working on the LLC Right Now and sitting back absorbing some of the fundamentals. Nice to meet you!


Hazco Investment hit the LLC on the button in my world. He said "millionaires own nothing but control everything". I am brand new and look forward to becoming a wealthy REI. The LLC is important to me as it will seperate our personal from creative riches.

I have been working on my LLC. The IRS would not give me a EIN online. I have to contact them.

New and LLC

Lovmel2006 - you said you are new at this but you are going to go ahead and get your LLC. Will you be doing assignments or buying and holding props? Just trying to see why starting out new you are getting yoru LLC.

I want to get mine but it seems some say don't get one till you need it..others say get it so you can build business credit... I am going to do assignments at first because I don't have the cash or personal credit to buy properties. But, I was thinking that if I could build up business credit then maybe I could then buy investment properties vs assignments.

Guidance anyone???

I just did it!

After pondering on it and thinking about the pros vs cons... I just did it.
Earlier this week I filed thru LegalZoom for my LLC.

Now to work on building business credit will be the next step.

Affluent Enterprises, LLC

wow...major steps fast but I am excited.

LLC cannot completly protect

the last re club meeting i went to our speaker ( who is a broker and investor for 30 yrs} said that if any of your props go under his ins. told him they can come after him his house and the dog even with an LLC.

andrew ca.
Dreamhome Properties LLC




Hello everyone I am starting up my buisness and the name I picked out was being used ( Follow Your Dream )Does anybody have any ideas I could use


David Doc