can you conduct realestate without a certificate of authority from your state, secretary of state.
Also same for an llc. Can you do business without one? I mean obviously its wise for legal liabilty issues.
Im getting my certificate of authority from both operating states. I would just like to get started before i get them in the mail. Id like to start looking for deals now just not sure if its legal
@Tim Speer Bud you are spending WAY too much money. As per our other posts you've already established a LLC in both TN and KY (great if you have a lot of assets to protect, not really necessary just starting out). A certificate of authority authorizes a business registered outside of the subject state, to do business in the subject state. Being you have LLCs in both states..what would be the purpose?
Kudos for thinking big picture, but the bottom line is you don't need to spend all this money forming entities to do business. You can legally buy/sell real estate in your own name without ever forming a LLC etc. You'd be better off spending the money on a good web/landing site for motivated sellers, and marketing
@Tim Speer My contact info is in my profile page, feel free to give me a call tomorrow and id be more than happy to answer questions you have
@lloyd stanton thank you! Ill definitely take you up on that offer. What time are you free?
Yeah man im reaching for the sky. Id like to own 10 properties my first year. Eventually 10 years later getting to around a 100 units..
I mainly want the s corp for tax benefits because i will be flipping/rehabbing to use the profit to pay for the down payment on conventional business loans.
The other problem i thought i would run into without a llc and s corp is trouble getting the means to do a conventional business loan for a property. I figured the bank would deny it if i used my own credit.
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