Updated over 8 years ago on . Most recent reply
How to create an LLC!
What are the recourses, or people used for creating an LLC?
Most Popular Reply
1. You should have an LLC if your buying notes.
2. You do not need to have to form an LLC in the state your buying the note but you may have to register as a foreign entity depending on state your buying in
3. Not to sound harsh but if your inquiring on how to setup an LLC and never bought a note before - unless your a licensed debt collector with a lot of experience your insane to do your own workouts. Pay the servicer the extra $35-$50 a month and spend that time on making new connections.
4. If your looking for asset protection you need to setup the LLc - then get a bank account for the LLC and never commingle funds between personal and LLC - if you do you may lose your asset protection. The LLC should act as an independent entity
FYI - I am not an attorney or accountant.
- Chris Seveney
