I need your guys' unbiased feedback on my business name.

39 Replies

Hello everyone, 

I am looking to start my own rental business and am trying to create my business name right now. My current idea is Handel Housing. Handel is my last name and to me, it sounded catchy. I want other's opinions though. I don't want it to sound cheesy to potential tenants and/or potential future investors. So please, do give your unbiased opinion on it. If you think it sounds absolutely horrible PLEASE tell me. Last thing I want is to invest in branding and find out other's find it ridiculous. 

Thank you all in advance!

Name seems fine to me. Are you just looking to own rentals yourself? If so I would focus on finding properties you like, how you’ll finance them and manage them etc. I’ve found people could care less about my company name or logo if I have a good house they want to rent that’s all that matters.

I’d dive right in and worry about branding a little later on.

Direct feedback - re-prioritize what you are focusing on. Branding a business and figuring out a name should not even be on the list. If I find myself talking with someone who has invested money in branding, websites, business cards, trainings before buying 1 property I go in the other direction.

1. Define your strategy - SFH, Multi, Etc.

2. Build your network (attys, brokers, lenders, prop managers)

3. Build valuation models, how will you analyze properties, what are you looking for, do you know the key metrics and comps?

4. Find and execute your first deal.

5. Repeat and refine.

As I mention in other threads this business can be trench warfare, I would take this time to understand what you are committing yourself to and prepare by building the necessary components of an operation, not tangential fluff.

Good luck and keep us posted

JC

Seems gimmicky. Don’t like the double Hs

Originally posted by @Jeffrey Calabrese :

Direct feedback - re-prioritize what you are focusing on. Branding a business and figuring out a name should not even be on the list. If I find myself talking with someone who has invested money in branding, websites, business cards, trainings before buying 1 property I go in the other direction.

1. Define your strategy - SFH, Multi, Etc.

2. Build your network (attys, brokers, lenders, prop managers)

3. Build valuation models, how will you analyze properties, what are you looking for, do you know the key metrics and comps?

4. Find and execute your first deal.

5. Repeat and refine.

As I mention in other threads this business can be trench warfare, I would take this time to understand what you are committing yourself to and prepare by building the necessary components of an operation, not tangential fluff.

Good luck and keep us posted

JC

  I understand what you're getting at and I appreciate your feedback. I'm trying to do it all at once I suppose. I'm currently networking with realtors, bankers, cpas, local investors, etc in my area. I'm looking at houses and figuring out my financing strategy. I know what I'm looking for and I'm picky. I don't want to jump into a bad deal. The market in my area is hot and it seems the deals that I find online are the left overs. I think I need to do more networking and try some of the other methods BP recommends to find deals before they hit the market. That's what the local investors are telling me. The past few months have been focused on learning and now I'm trying to jump in. Branding isn't my main focus. Only part of it. I want to come off professional once I finally do find that deal where the numbers work. I thought having that would help me look more committed to others. This is what I want do full time. My family has been in this business for over 40 years. I grew up in it and this is what I want. Once again, thank you for taking your time to give your feedback. I really appreciate it and will focus more heavily on getting my first rental. 

-Brandon

Originally posted by @Caleb Heimsoth :

Seems gimmicky. Don’t like the double Hs

 Thank you for your honest feedback. 

Originally posted by @David Light :

Name seems fine to me. Are you just looking to own rentals yourself? If so I would focus on finding properties you like, how you’ll finance them and manage them etc. I’ve found people could care less about my company name or logo if I have a good house they want to rent that’s all that matters.

I’d dive right in and worry about branding a little later on.

 Thank you for reply! I am looking to own my own rentals. I'm multitasking and trying to work on everything at one time. Branding is just a small part of what I'm doing and only because I thought it might make me seem more professional to others. I appreciate you taking your time out to give me your thoughts! 

-Brandon

Why do you need a name at all?

I wouldn’t care at all about it. Just easy to identify you if they’re janky.

Originally posted by @Aaron Hunt :

Why do you need a name at all?

I wouldn’t care at all about it. Just easy to identify you if they’re janky.

 Well I'll need some kind of name for an llc. In his books Brandon talks about having a business card and how it can help your image and make you appear more professional to others. Even he has a name for his, Open Door Properties. 

Sounds good to me. I agree it's important for branding when networking and so forth. 

I'm going thru the same thing right now. We went with the street name with one of our properties + Holdings.  It's nice and generic, and anonymous.  Associates, Properties or Group are other good descriptors as well.

Originally posted by @Brandon Handel :
Originally posted by @Aaron Hunt:

Why do you need a name at all?

I wouldn’t care at all about it. Just easy to identify you if they’re janky.

 Well I'll need some kind of name for an llc. In his books Brandon talks about having a business card and how it can help your image and make you appear more professional to others. Even he has a name for his, Open Door Properties. 

I guess I just prefer flying under the radar.

Just doesn’t sound right to me not professional and not really a nice roll.

As you scale out and become more sophisticated I could see how it would be ideal . I chose an American flag and called my business
freedom first rentals .

If you name your LLC after yourself it kind of defeats the purpose of having an LLC (separating your personal finances from those of the business). It may even make it easier for someone trying to sue you to “pierce the veil” and go after your personal finances if the company is named after you. Also IMO any business should be scalable and setup so you can eventually step away and let it run itself without your involvement, so an eponymous name is a poor choice in that regard because the name implies the company will never grow bigger than you.

That said, I agree with the others that the LLC name isn’t really something to spend too much time on. If you like the name go for it. A lot of folks start a new LLC for each property and just use the property address for the name, such as 142 Main LLC

@Brandon Handel the name you suggested is fine. That said I agree with others that say the name is not that important. You are not  likely to get large enough that "Branding" will make much difference. It takes a LOT of marketing to build a brand that people will recognize. 

Personally I don't want my name it the company name. i also don't like long names. Signing Ned Carey, authorized member, Blabbady blah blah investments LLC is a lot of writing when you have to  sign you name 10 times on a contract and  disclosures.

@Brandon Handel TBH, if you put more than 5 minutes of your time into thinking of a strategic name for a housing rental business then it's valuable time wasted. This is not retail, its not a service business, its not manufacturing etc. You are renting shelter. The only things that matter are price and the quality of your unit. Your fictitious name or corp name is totally irrelevant. Your tenants won't even know your company name until they write their first rent check. Best of Luck.

@Brandon Handel I like the name by itself but I would not use it.  Depending on what business structure strategy (asset protection) you are looking for you may want to keep your name off of it.  Unless you are going out of your area then find something that speaks to where you live and try different combinations of that.  Good luck. 

@Brandon Handel

You got bigger things to worry about. That point's already been made in this thread. Putting your last name on your real estate LLC isn't going to help you at all during your first nuisance lawsuit. That point's also been made. Don't do anything meaningful and interesting with the name. Some sort of botanical name always works. Juniper Property Group'll do ya. Later in life you can make up some BS story about why the juniper tree is incredibly important to you on a deep and personal level.

@Daulton H. my strategy was to have that as the face of the management side. My properties by themselves would be owned by separate LLCs. So basically Handel Housing would be the property manager, not the owner. I still have much to learn as far as corporations go I'm finding out. I don't know what I would make Handel Housing. LLC, S-corp, something different? In a general sense, could that still work for me do you think? The whole idea behind having my name as part of the company was like my "guarantee" to not be a slum lord and take care of the property and be fair. I care about my name and my thought was that I could convey to others that I'll take care of the property because my name is on the line. My mom has been in the business for over 40 years and has told me several times that in general, the good tenants stay with the ones that take care of the property. Now I know that isn't even really going to matter in the beginning because I won't have a large enough supply and people won't even know who I am, but I like to think long term. Eventually, I want to get into apartment complexes and I thought I should start building on that reputation with my first unit. Plus when I do get to that size I want to have a website to handle complaints, repairs, applications, etc more efficiently, and I'll need some kind of name to put on the website. What are your thoughts?

@Brandon Handel it definitely sounds like you have put some thought into it.  As I do not manage it has never been an issue for me.  Your plan sounds logical to me.  And if you are already the outward face (daily manager) for Handel Housing then having your name associated to it is no big surprise.  Just keep your plan of having the properties separate in other LLCs.  Also I like (Handel Homes) better, it sounds more upscale and maybe lends toward the development side of things if you ever decide to build and sell. 

I don't put my name on any of my 4 LLCs. I don't want anyone knowing I'm the owner. I'm just the property manager and when I give someone a late fee or the boot, I'm just following company policy :)

@Daulton H. I have. I just don't want to paint myself into a corner. A lot of people on here are telling me its a bad mistake. I don't know if they think I'm putting everything into that one LLC or just the management side. I should've clarified that better in the beginning I suppose. Another person has said the same thing regarding the name. Your reasoning is what I was starting to think too. Thank you for your input.

How can feedback be unbiased?

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