What type of names is everyone using for the LLC and the Websites.
I don’t think it matters provided you don’t use any part of your name in the company name (for privacy/liability reasons).
Mike
I use charecter names from my favorate movies (usually mispelled) like Yodar, or Jabbier.
Hell I named my company after my favorite football team. Dallas Cowboys = Blue Star Homes.
When naming a company you need to focus on two things…
Your customer
and
Your Vendors
Also understand blind advertising issues and solve for them
Michael Quarles
I use Latin terms related to the purpose of the entity.
How many companies do you have and why?
Ex. One for the buying of properties, and one that is hired for the construction.
But in a nut shell…
One is an advertising card the other is a corporate card…
Thare are all kinds of designs that work and dont work…
Michael Quarles
I buy single family houses. I can get the best terms buying them as an individual. So I only use my company when I do trusts. The trust needs 3 people. It needs me as the non resident benefituary and the “tenant” as the resident benefituary and a trustee. My company acts as the trustee. Everything else I do is me. I buy the property I hire the contractor, I pay the taxes, I fix the toilets, etc.
It sounds to me like you’ve got a handle on things. Name it something that reflects Integrity.
ED
I wouldn’t put anything in your personal name and why use a trust?
your exit strategy determines your entity.
Of the hundreds of deals I have done only one has been in a trust which happens to be my personal residence.
It is a Texas thing. In Texas it is very difficult (impossible) to do an executory contract (contract for deed, lease to own, etc). In order to get the same effect without giving your house away, I put the houses into a trust. That is why I always say that all real estate is local. You have to do what works where you are. You can’t learn real estate in Texas and do those techniques in California, or come from New Jersey and do real estate in Texas.
In California you use a trust for asset protection (I assume) In Texas the law protects the land owner quite nicely. If somebody sues me and wins, they can’t get my home my cars, the tools of my trade (that gets interesting) my pension or retirement funds. That leaves any cash I may have laying around and since my property is highly leveraged, they can’t even get that. That is why I put the properties in my name. But remember it is local rules that apply.
I think wherever your market is going to be, you should build your team of, broker, attorney, appraiser, inspector, etc. there locally.
BINGO…BTW Brian did you just start investing in '06 or what?