Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
13y
Business names need to be remembered, easily associated with the service/product line.
Easy to say as well, if you're answering the phone, by the end of the day you'll get tired of saying Merrimack Valley Residential I'm sure.
Shorter fits better on business cards, centers on letterhead, fits on stamps to endorse checks and costs less for type setting too.
How about signs, cost per letter, big names, small letter size can't read it as well far away.
How will you brand your business, got a slogan, a motto, a saying that identifies you? Some like that, so does it flow with the name?
It also needs to say what you do.
That's why you'll see someone's name and then Real Estate or Realty (you can't use Realty unless you're a Realtor BTW). Trump Inc. or just Trump! Brennan LLC works too.
I don't care for AAA unless you're a car club or a car repair shop. The phone book use to be important to some, being first on any list has advanatges.
Can the name tie into a logo? Company colors, how's it look in royal blue and light grey, red and white, yellow and black....?
One word is usually better to tie things together, while it could be
BRENNAN PROPERTIES LLC, dba "BRENNAN"
How are contracts going to be printed up, filled in, you'll have a ton of paper work and signatures, you can shorten things with the DBA and LLC.
I get a laugh out of very small companies with implications of being some mega structure, thanks for not going there like Brennan American Enterprises.... :)
I suggest you keep it simple, say what it is, and make it easy to say and write!
From what you have, I'd vote for Brennan REI (or Real Estate or Properties) :)
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
13y
Business names need to be remembered, easily associated with the service/product line.
Easy to say as well, if you're answering the phone, by the end of the day you'll get tired of saying Merrimack Valley Residential I'm sure.
Shorter fits better on business cards, centers on letterhead, fits on stamps to endorse checks and costs less for type setting too.
How about signs, cost per letter, big names, small letter size can't read it as well far away.
How will you brand your business, got a slogan, a motto, a saying that identifies you? Some like that, so does it flow with the name?
It also needs to say what you do.
That's why you'll see someone's name and then Real Estate or Realty (you can't use Realty unless you're a Realtor BTW). Trump Inc. or just Trump! Brennan LLC works too.
I don't care for AAA unless you're a car club or a car repair shop. The phone book use to be important to some, being first on any list has advanatges.
Can the name tie into a logo? Company colors, how's it look in royal blue and light grey, red and white, yellow and black....?
One word is usually better to tie things together, while it could be
BRENNAN PROPERTIES LLC, dba "BRENNAN"
How are contracts going to be printed up, filled in, you'll have a ton of paper work and signatures, you can shorten things with the DBA and LLC.
I get a laugh out of very small companies with implications of being some mega structure, thanks for not going there like Brennan American Enterprises.... :)
I suggest you keep it simple, say what it is, and make it easy to say and write!
From what you have, I'd vote for Brennan REI (or Real Estate or Properties) :)
Developer · Andover, MA · Member since 2008 · 1k+ posts · 489 votes
13y
I don't really think the name is all that important, however, I wouldn't restrict yourself by including the location or investment type (i.e., residential) in the title. 5 years down the road, you may get into commercial or branch out to all of MA, or country for that matter.
Real Estate Investor · Aurora, CO · Member since 2009 · 155 posts · 60 votes
13y
I guess I was going for a positive sounding name. Validity may not have been the best choice because I have to spell it out for most people.
I always abbreviate checks and such, Validity HBC.
Really doesn't matter too much because I formed an LLC partnership with it and an LLC I have for tax reasons. I rarely take title under that name.
In fact, you can name it whatever you want and have as many DBA's as you would like to for different sectors of your business.
Developer · Andover, MA · Member since 2008 · 1k+ posts · 489 votes
13y
I agree with Kyle Weimer. Even though my legal entity is JS2 Homes LLC, I will use my website name (WeBuyHousesInMA) on yellow letters. I also have a second set of business cards with the website name to place around stores in the towns where I buy.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
13y
If you want to wholesale properties I would use that in the name. If you wanted to flip properties, I would consider using that in a name. A name can be used to tell people WHAT you do. I have a seperate business and the name of it states EXACTLY what I do. If you just have a name like *** capitol, what does that name tell people? It doesn't tell them you buy and rent property, wholesale property, etc. This is my .02 from a newbie on the site. I do have a few years of business under the belt though, and I have always felt that if you can say exactly what you do in a name that helps quite a bit. YMMV!
Real Estate Investor · Lafayette, CA · Member since 2010 · 179 posts · 71 votes
13y
Sean Brennan, I think for wholesaling purposes, Brennan Properties LLC or Brennan Capital LLC or any other LLC with your name in it sounds good and makes you feel good. So go with this.
On the other hand as your business grows. It becomes less about value and more about protection.
For a Real Estate business that is Buy and Hold:
My advice is to stay away from Personal Names, Last Names. As you grow, you will soon find out you look more like a value to attorneys than your clients. (ask me how i know)
Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
13y
Sean Brennan OK. I am not a CPA and I may be wrong, but I don't think that you need an LLC. The income you'll be generating on flips is going to most likely be considered earned, not passive. As such, you may be better off with an S Corp. LLC is good for long-term holds because the income is not subject to SS tax in the first place. Talk to your CPA!
Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
13y
Originally posted by Ben Leybovich:
Sean Brennan OK. I am not a CPA and I may be wrong, but I don’t think that you need an LLC. The income you’ll be generating on flips is going to most likely be considered earned, not passive. As such, you may be better off with an S Corp. LLC is good for long-term holds because the income is not subject to SS tax in the first place. Talk to your CPA!
Ben Leybovich,
How LLC income is taxed depends upon the entity type. An LLC does not exist for federal tax purposes.
If it is single member and no election is made it is taxed as a sole proprietorship. Generally, all non-rental income is not subject to SE tax.
If it is multi-member and no election is made it is taxed as a partnership.
If it is single or multi-member and Form 2553 is filed it will be taxed as an S-corporation in which distributions may be made and not necessarily all income will be subject to SE tax.
If it is single or multi-member and Form 8832 is filed it will be taxed as a C-corporation which is taxed and dividends will be taxed personally as well.