How do you name your LLC to add the most value?

How do you name your LLC to add the most value?

Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes

For a wholesaling business I am thinking of the following names:

1. Brennan Residential, LLC

2. Brennan REI, LLC

3. Merrimack Valley Residential, LLC (MVR for short)

4. Merrimack Valley REI, LLC

I am leaning towards Merrimack Valley Residential, LLC

Are there any thoughts as too how your name effects your brand? Does it even matter?

0Reply
212 views

Most Popular Reply

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) :)

See this reply in the discussion

62 Replies

Jump to latestLatest
  • Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    13y

    Thanks Steven Hamilton II I learn something new every day. I have both an S Corp for the earned income, and an LLC for passive. What exactly is the difference/advantage of filing Form 2553 with an LLC as opposed to simply setting up an S Corp? Is the reporting easier? Likely, with an LLC there is no payroll to keep sinse there are no employees?

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    Steven Hamilton II What do your recommend for this situation:
    My wife has W2 librarian income, I have 1099 appraiser income, and I want to start wholesaling.

    I was recommended to create an LLC taxed as a partnership with my wife and I as members and run my 1099 and wholesaling income through it. Would you agree?

  • Real Estate Investor · Aurora, CO · Member since 2009 · 155 posts · 60 votes
    13y

    Just to chime in, my CPA recommended I switch to an LLC partnership.
    For both my wholesaling and rehabbing. You don't want to seperate wholesaling from your rehabbing. Better chance for IRS to try and classify you as a dealer which you don't want.
    Also, LLC partnerships statistically are audited much less.

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    I have read that single member LLC's can be classified as "disregard entities" and treated as sole proprietorships with no liability protection and adding a spouse does not change this (as opposed to an unrelated party); however, I don't really know what I am talking about and I read this somewhere on the interwebs :)

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    13y

    I agree with the concept that a name should be chosen according to who you want to attract or market to.

    I favor one name for colleagues in the biz (lenders, other investors - particularly those who buy properties from you, etc.) and one name for sellers. And perhaps even another that actually takes title to properties (but isn't so 'public' and visible for asset protection reasons).

    I see no point in marketing a company name that will only confuse or even intimidate your (private) sellers. Sure it made you "feel good" and 'important'. But you scared off a seller who felt somewhat intimidated by dealing with (what he/she perceived as) a big corporation.

    I say go with a name that tells your market EXACTLY what it is you do. Yet match it with an image that makes you appear approachable, straight forward and reputable.

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    Thanks Ibrahim S

  • Real Estate Investor · Aurora, CO · Member since 2009 · 155 posts · 60 votes
    13y

    A single member LLC is disregarded for tax purposes. However, you can form a partnership, either with another LLC or Corp. I formed my partnership with a C-corp that is only 2% partner but still allows me to take advantage of certain perks such as a healthcare plan. You file a 1065 form on your tax return.
    I am no expert, but take my advice from those who are. This is what I do.

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    Gets pretty complicated fast, huh

  • Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y

    Sean Brennan,

    There are MANY more variables, such as total income, types of income, state you are in, the future, etc...

    Depending upon your entire situation, You might be best with an LLC taxed as a corporation (S or C).

    Kyle Weimer, Form 1065 is the US Partnership Tax Return. It is completely separate from your Form 1040 that you file.

    Why would they suggest a partnership? Personally, I'm a huge fan of Family Limited partnerships and multiple entities; however, being an accountant it is easy for me to keep it all straight.

    -Steven

  • Real Estate Investor · Aurora, CO · Member since 2009 · 155 posts · 60 votes
    13y

    I know that a 1065 is a partnership form. I have an LLC partnership formed with an LLC and my C-corp.
    I don't want to do any investing that has to file a 1040. Big no no.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    Why don't you guys hijack Sean's thread and talk about taxes and entities?

  • Real Estate Investor · Aurora, CO · Member since 2009 · 155 posts · 60 votes
    13y

    Initially, I was using an S -corp for my rehabs and LLC's for my buy and holds.
    Have since converted to a little different style.
    I do use multiple LLC'S for multiple buy and hold units as well.
    Partnership returns definitely have advantages. I'm not the total expert but I get my advice from some of the top real estate CPA's around. (obviously that is subjective)
    Everyone has a different idea.

  • Real Estate Investor · Aurora, CO · Member since 2009 · 155 posts · 60 votes
    13y

    @Bill Gulley, Sean brought up the topic himself and we did stray that way per his initiation.
    Everyone is a policeman. LOL
    So, so sorry!

  • Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y
    Originally posted by Ben Leybovich:
    Thanks Steven Hamilton II I learn something new every day. I have both an S Corp for the earned income, and an LLC for passive. What exactly is the difference/advantage of filing Form 2553 with an LLC as opposed to simply setting up an S Corp? Is the reporting easier? Likely, with an LLC there is no payroll to keep sinse there are no employees?

    Ben Leybovich,

    There is no difference for tax purposes. The IRS sees it just as an S-corporation. There can and SHOULD be a payroll if the only income is from an S-corp.

    -Steven

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    Sorry, Ben got off topic then our moderator carried it on answer tax questions, then it appeared Sean as he was lead there, then Abrahim tried getting back on topic, Sean said thanks and the Kyle pops in with entity structures, Sean goes along being polite and here comes the Steve answer other off topic questions again, Kyle goes further with entities, I pop in getting back and then you guys keep going.....pretty much the way I read it.

    And, when people search for threads about names they get entities and taxes, when they look for entities and taxes they won't find what you're posting.... :) That's another reason to stay on topic, but if Sean show an interest in Bens' off track jaunt, it's sure fine by me...

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    Thanks for having my back Bill! lol

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    Anyway....

    Google the name you want and see if there is anything similar.

    I had another company in St. Louis with a very similar name, one word difference that the state allowed each of us to file. It worked out for us and we even did some business together and passed on leads/business geoprahpically, so it worked out. But it could have been a real mess.

    You'll see if there are similar names, even if you're not in similar businesses a bad reputation of one can be confused in the public eye.

    I'd also suggest not using some strategy in the business name.
    Example; wholesale might be added in smaller print at the bottom of your business cards along with other aspects you might deal in.
    The public has no idea what "wholesale" means in real estate, a homeowner interested in selling may not understand and not call you.

    Your name is much more important in the public eye than as seen by other RE dealers, operators and investors!

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    Yea, I will do a MA corp. name search. I am probably going to do Brennan Properties or Real Estate or some other word and properties or RE...

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    What do you guys think of Cedarwood Properties, LLC

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    13y

    Cedarwood Properties LLC sounds like the name of an Apartment building. Not that it's a bad thing - but it doesn't sound like a company I'd buy or sell to. Just my opinion Sean Brennan! Great discussion here, by the way :)

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    Haha thanks for the honest feedback Brandon

  • Investor · Sacramento County, CA · Member since 2013 · 104 posts · 20 votes
    13y

    Right with you you Brandon - one of my favorite discovered threads so far. I agree with the sentiment that Cedarwood sounds "big". Neither good or bad, just the personality that I think the name gives.

    My partner and I are going through this exact situation right now - trying to figure out a name. We've got the front solid, but the back end of the name is proving to be difficult - "Capital", "Investment Group", "Real Estate Partners" etc...

    Feel like I'm naming another kid!

  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    13y

    Remember, you can always change the name, start a new company or use a DBA if your future growth calls for it. But, starting out, I'm not sure it matters that much.

    My company is Lish Properties -- "Lish" is the nickname my wife and I have for our dog... :)

    Not at all professional sounding, but we haven't outgrown it yet...

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    J Scott haha nice. Yea, I am overthinking it.

  • Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
    12y

    @Sean Brennan

    Do not put your name in the name of the entity. There are many reasons for creating an entity, taxes, liability, and anonymity among others.

    Perhaps when dealing with tenants, you want to be the manager, hard to do when your name is on the entity.

    Perhaps you take in a new partner. If your name is on the entity that partner might want equal billing.

    Or perhaps you build up the business to sell to somebody else and move on, a business without your name would be easier to leave. What if the new owner runs the business into the ground or commits some illegal act, do you want your name associated with that?

    You don't want a name too long, too hard to pronounce or spell, or even subject to mispronouncing into something bad or illegal like Cheatham Investments, or Krakhead Realty, or Dee Viant Homes. ...

Join the conversationCreate a free account to reply, vote on answers and follow this thread.