Company name- anything to avoid?

Question

I am in the process of forming LLC and wanted to get some opinions on what to name the company or more importantly to not name it.  Are there names to avoid (such as investor) as I don't want to lose deals related to a title.  Is it wise to include your family name or better to keep it general?  I do not have my niche established so I dont want to make it too focused yet.

James Wise · Answer

i'd keep it simple Nordgren properties llc.

David Krulac · Answer

@James Wise

I talk to lots of real estate investors, many want a company name to be anonymous.  Putting James Wise Properties or even Wise properties disrupts that.

I really like street names, geographic names, and any name that is anonymous.

When we do a new development, it gets a new name;  when the development is sold out the entity is dissolved.

Just look around BP.  There are people that don't even post using either their first name or last name.  Some have first name and initial, and believe it or not some people are even using fake names right here on BP!

James Wise · Answer

@David Krulac I dig the street names. We were doing a J/V with an investor on a duplex on a street called W 50th street. We named the LLC 50 street properties.

That said. I don't think the name really matters all that much. Not saying it does not matter just that in Real Estate it does not matter as much as in other industries such as retail or restaurants.

If it's a rental business were talking about tenants don't care at all. They just want a nice home for a fair price and need to know who to give the rent check to.

David Krulac · Answer

@James Wise

Sorry but I have to disagree.  Here's what I wrote here last June:

Originally posted by @David Krulac:
	@Bryan Weller
	I don't like LLC, INC names that mimic the owner's name, like:

Bryan Weller LLC

Weller Real Estate LLC

I think that the company name should be completely different from your own name, even Bryan and Bob LLC is something I don't like.

From the IRS prospective there is always the question of dealer or investor, which often equates to being Federally taxed at long term Capital Gains rates or ordinary income at double the taxes. so your name should not state or imply that you are a dealer like:

Day Trading Real Estate LLC

Bryan's Buying & Selling Real Estate LLC

Bryan's Flipping Homes LLC.

Another thing that happens is that the nature of your business might change and now the specific name you pick does not apply like

Rehabbing Chicago LLC

Then you stop rehabbing or stop working in Chicago, once you move to Milwaukee or even Skokie and only do rentals the name Rehabbing Chicago doesn't make sense any more and will confuse people.

I'm not as bothered by this one but have seen people that have names that don't quite fit or don't fit yet like:

Worldwide Real Estate LLC

Global Real Estate LLC

Transcontinental Real Estate LLC

Actually met a couple of people with names like those who didn't own any real estate. That doesn't fool anybody and nobody is going to think you're Donald Trump, just because you have a business name like that.

Speaking of the the Donald, i ran into somebody who had a name like Trump Real Estate Investments LLC, who had no connection to Donald Trump or anybody else with the Trump name. That will fool only a few people, looks like a scam, and maybe was a scam. There was a famous accused scammer that used the name Rockefeller.

Names that I like tend to be natural feature, geographical, historical, or location specific. For every subdivision that we start we start a new entity to own the subdivision, a name totally different and unrelated to any other subdivision name that we have used or anybody else has used. In Pa. law within a municipality the subdivision name (which is required) must be unique to that subdivision.) We might use River Bend LLC, or Pheasant Crossing LLC, or The Woods LLC, The Cliffs at the River LeBeau, Lincoln Park LLC, or Waverly Meadows LLC.

For rental perhaps you have several on Main Street in your town, possible names would be Main Street LLC, Chicago Main Street LLC, or if your building is at the intersection of Main & Lincoln Street, something like Lincoln Main LLC. I like street names a lot and if you have a large commercial, office or apartment complex the name could be something like 3401 Main Street LLC.

Once we had a company that was named after Will Rodgers, who said "Buy land they're not making any more." And Horace Greeley who said, "Go west, young man."

And it depends on what you want to do with your entity. Do you want to be anonymous or will the name be used in marketing? If marketing a name it has be non offensive, non controversial, and a pleasant sounding name to all groups.

Bill Gulley · Answer

Might avoid a name like Dewey, Cheatum & Howe, LLC. :)

Your last name or first initial last or first and last is fine, or some geographical area name if it's not taken, like Homes of the Ozarks, LLC.

There is a longer thread about selecting a company name, might search for that.

Do a name search before you file, make sure it's not close to another name and don't try to form any company name that implies government involvement, like RE department of state name or something. Can't use trademarked logos or names or phrases like Realtor or imply a brokerage or any insured lender, use of "capital funds" would not be good or give the appearance of any regulated profession. Your name is fine. :)

Aaron N. · Answer

James,

Ive been mainly a buy and hold/rent investor but I havent been doing  this long enough to make that my only option.  Thanks for responses so far.  I will do a quick search to see what I can find.

James Wise · Answer

What does your business do?

Company name- anything to avoid?

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