Company Name

6 Replies

How important is it to have a company name to put on your business cards and letter head? I don't actually have another entity formed but I guess I could use a name if I need to.

Do you find more success using another name? Does it add some needed professionalism? Or should you just do it as an individual? No difference?

you're simplifying something and looking at something that requires much more thought and it's not about the name of the business.

it doesn't matter what the name is. it matters what type of business in you're in, what business entity will be most effective for you (taxes) and which will provide you with the greatest protections (assets).

having said that - don't get caught up in all the craziness of the ultimate buzz word in rei - "asset protection".

a business has to have a plan.

it's all fun and games when you're talking about and thinking of a good name for your business. but let me tell you - if you're going into real estate investing - say to wholesale - just stick to the basics. you're not going to wow anyone with a good name.

and you absolutely cannot make up a name and slap it on a business card or any marketing material - at all. if you do this without at LEAST filing for a DBA in your local county - you could get yourself into trouble.

you can't represent yourself as anything other than who you are unless you file for the appropriate business entity.

and yes it does matter whether you hold your investments in your name or not. emphasis is on the "not" - don't do it.

i read John T. Reed site - he talks about this alot and i could not disagree with him more. when i was new to all this i liked what i was reading. but the more i learned about business - i realized that Reed is not giving the best advice. his views on asset protection have excellent points - but his overall message about using DBA's etc - are not good.

http://www.johntreed.com/

[i have no affiliation]

that's it.

he's got many articles - his marketing technique is to bash as many guys like carleton sheets, kiyosaki, etc. - alot of them he does "not recommend".

he rips them and then offers his books and other materials in place of all them.

BUT i can't say that i've read any of his material other than what's on his site in terms of articles.

Originally posted by "noobdog1":
http://www.johntreed.com/

[i have no affiliation]

that's it.

he's got many articles - his marketing technique is to bash as many guys like carleton sheets, kiyosaki, etc. - alot of them he does "not recommend".

he rips them and then offers his books and other materials in place of all them.

BUT i can't say that i've read any of his material other than what's on his site in terms of articles.

Noobdog1,

Thanks for the info and link.

Mike

think of it on a larger scale.

motorola - for example - if they refinance their corp headquarters to draw out capital for a project or just to boost up their cash accessibility, or for whatever reason - they're tapping into one of their many assets, converting equity into cash by taking out a loan (liability) in order to somehow grow their business.

the corporation does this - not any one individual. the corp and it's assets are liable - not the shareholders, directors, employees etc...

that takes TIME to do - because the business must grow it's CREDIT and reputation through STRONG FINANCIAL STATEMENTS.

just naming a business and "holding assets" in the name of a business doesn't mean anything, unless that business entity is treated as such - a SEPERATE ENTITY.

that's paramount.