Comments on: How to form a compny for an investment property ? http://property-investment101.com/property-investment-advice/how-to-form-a-compny-for-an-investment-property/ The Best Investment Properties Advice Fri, 01 Jan 2010 21:41:26 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: altonbi http://property-investment101.com/property-investment-advice/how-to-form-a-compny-for-an-investment-property/comment-page-1/#comment-36 altonbi Thu, 18 Dec 2008 13:20:03 +0000 http://property-investment101.com/property-investment-advice/how-to-form-a-compny-for-an-investment-property/#comment-36 Even if you form a company, you will have to use your personal credit until you company is established. Getting a DUNS number will assist in that task. But you must consider if you are going to be a LLC, or and S-Corp, and if someone is going to be a partner, or your business is sole proprietorship. For purposes of protecting your personal assets, you would want to be and S-Corp, however the cost to do this may be restrictive for you. The cost varies from state to state, in my state, Illinois, it cost almost $500. You need to consider having a good accountant and attorney as well. Learn how to evict because it will happen. Know your state laws about tenant rights, which vary from state to state. A great website to get lot of free help on land-lording is Mrlandlord.com. Even if you form a company, you will have to use your personal credit until you company is established. Getting a DUNS number will assist in that task. But you must consider if you are going to be a LLC, or and S-Corp, and if someone is going to be a partner, or your business is sole proprietorship.

For purposes of protecting your personal assets, you would want to be and S-Corp, however the cost to do this may be restrictive for you. The cost varies from state to state, in my state, Illinois, it cost almost $500.

You need to consider having a good accountant and attorney as well. Learn how to evict because it will happen. Know your state laws about tenant rights, which vary from state to state.

A great website to get lot of free help on land-lording is Mrlandlord.com.

]]> By: ttpawpaw http://property-investment101.com/property-investment-advice/how-to-form-a-compny-for-an-investment-property/comment-page-1/#comment-35 ttpawpaw Tue, 16 Dec 2008 00:59:14 +0000 http://property-investment101.com/property-investment-advice/how-to-form-a-compny-for-an-investment-property/#comment-35 First check in your area to see if they have CORE (center of retired executives) A group of retired people who volenteer time to help young people get started in business. You will also need to talk to a lawyer to find out the monetary advantages and risks.pp First check in your area to see if they have CORE (center of retired executives) A group of retired people who volenteer time to help young people get started in business. You will also need to talk to a lawyer to find out the monetary advantages and risks.pp

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