Hello
I have properties and I am going to go to the Court next month to buy, however, iam attending the seminar that the for close listing company is putting out. I need advice regarding to open a LLc corpration in texas and have some investor to invest with me in this line of work (Realestate) but I am the finder of this LLC can I have More than 50% of this corpration and other investor the rest? Yes I am experinced about real estate and sofar I ahve been giving free advice to my coworker but now I and my wife came up with this Idea to increase the cash and also helping others to make money while we make mony and the buying power will be increased.
I sther any advice the how should I rgister this company tha both the memeber and I be protected.
Thanks
Hi, I am not a real estate lawyer(just wanted to disclose that lol)
That said, if you start an LLC as a partnership, you can structure it any way you want you can give yourself 1 % ownership(I wouldnt recommend that), Here in Florida, we can have 1 member LLCs but when you add people to a lLC partnership, you will need to read up on how to determine the percentage you want to give your partners. If you have access to Prepaid legal or other companies creating corps, compare the price. Within the LLC entity, it can be a plain vanilla, or you can get it treated it as an s-corp or partnership. If any of the more senior members notice I made a mistake in this reply, feel free to correct me.
steve
Thanks
Steve, I undrestand I need to get a lawyer to do it, but I also like to know if any body has bought proerty fromm the court? and is this good way to get foreclosed? There are proeprties that has above 50% equity according to the trustee, what is the best Bid to do for this kind of property? Is it better to Buy Condo or House?