Mentors and LLC start up

4 Replies

Has anyone subscribed to any of the Scott Yancey's training or mentors? Has anyone used Veil Corporate for their LLC in Utah? I was told that was the way to go. I looking for comments or suggestions on both. Thank You.

I attended a Yancey event a few weeks ago and bought into the hype ($3K).  Right after the event I met with some real estate investors who also had bought into the hype and they told me their experience.  That evening I went to their website and wasn't impressed at all with the tax lien offerings (they only had 125 and they were all vacant lots in FL).  I had my father-in-law (who purchased the services and trainings) call ad cancel.

There was nothing on the tax lien site that I found of value.  I normally don't pay more than $25 for "information" that I can get from the Internet.  I would never pay for Yancey's education services (my wife and in-laws were going to attend), plus the speaker lied to me.  He told me that I had to attend the $2K training in order to get access to the Deal Desk website and service, which was a lie.  I just had to go the website and pay a monthly fee.  They lost all of my trust right there.

As far as setting up an LLC, do it yourself. Go to www.rocketlawyer.com, sign up for their free trial, create an LLC document, walk through the wizard and answer the questions, then download your PDF file.  Then simply complete the Articles of Incorporation form for the state where you want to incorporate and send it in with the fee (in CA it's $70).  That's it.  Don't waste your money paying someone to do something that will take you less than 15 minutes to do.

Hope this helps.  God Bless You!

I also went to the seminar, $ 2k. I'm not interested in buying tax leins. Though, they did talk about it. I believe I received my monies worth in the 3 days I attended. Was there a hook? Sure, but I new that was coming. $30k for additional training? I don't think so. I've looked at many other seminars since Yancey's and they were all saying the same thing. For me that was a validation of sorts.The LLC is a little more complicated. I don't want these properties in my name and I want solid Asset protection. There's so much to learn in this business and I can't wait to get started.

Thanks for your reply,
Bryan

Well, I've posted here a few times with very little feedback. Guess I'm a little surprised. My wife found this web-site believing it could help. I've read The Ultimate Beginner's Guide to Real Estate Investing and enjoyed it, but now feel I must pay for a mentor to help get me to where I want to be. The LLC, I will take my attorney's advice. I just thought many of the people on this site would have a lot to say...........

Thanks,

Bryan

On the LLC, I agree there's not a huge need to hire an attorney if you have a very simple business plan and just 1 or 2 investors. As it starts getting more complicated, you definitely should hire someone you trust to help you out, but for the simple LLCs, it's not that hard and you can definitely figure it out. Good luck.

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