Real Estate Agent · Circleville, OH · Member since 2008 · 633 posts · 488 votes
I'm in the process of registering my first Corporation with my state, and should have the paperwork completed relatively soon.
My main focus of this was to remove personal liability, and hopefully get access to credit services that are bigger than what I can get personally (I'm really needing revolving accounts so I can purchase-repair-rent/lease/RTO) properties.
One of the things i've run in to, that could be a issue with a Corporation or LLC for that matter, is that it seems in my state of Ohio that you can not respresent your entity in court, and must have an attourney, even for simple evictions.
I wondered if you have run into this yourself? I'm a bit worried about legal fees associated with simply evicting a non-paying tennant.
LLC's are generally the correct entity for holding rentals. Yes, you are correct that you are required to have an attorney represent you in Ohio courts. My attorney charges $150 for evictions. I've never lost a case.
Ask the successful investors in your area (at your local REIA). If you don't have a REIA, then go to the municipal courthouse and ask the clerks which attorneys do a lot of evictions. If neither of these ideas work, then just go to eviction court one day and you'll see first hand which attorneys are doing the evictions.
Thanks for the info Michael, I ended up calling the local Bar association and asked who did the most, HOPEFULLY I've got a good one (She handles lots of evictions).
Now, here's the bad question for your michael (it has nothing to do with corps).
How hard is it to get a eviction without a written rental agreement? I've got one unit without an agreement and they've been late forever.
I just opened my first corp yesterday for the same credit reasons. I bought tom kishs course and am going to follow the instructions to a T(would be the first time in my life i have done that) and see how many bloc i can get. best of luck to you!