Setting up my business LLC

7 Replies

Hello everyone. My name is Daryle, and I’m here in Jacksonville, FL. Real Estate is totally new to me but just like a lot of other people, I saw that one video on YouTube and said to myself, “man I could do that.” Sure enough here I am one month later closing on my first deal Monday morning. WOW! Im ecstatic ! Feels good just typing this up lol. Descent Assignment fee. I’m currently working as an Asst GM at checkers and as a shift manger at McDonalds. Yeah I know, 2 fast food joints it’s crazy, but however I feed my family that’s what I do. Between working everyday, 60-70 hours a week, I made time to wholesale, some days goin on 3-5 hours of sleep. I made a promise to myself and to my family that we will soon have financial freedom. This one deal is just the beginning of many. Thanks everyone who has posted something that I read and took anything from it. Now my question is, what kinda LLC or business license do I need to set up? What do I say I’m doing in my business if they ask ? Thanks.

nice congrats, are you wholesaling?

id go to a free jaxrei meeting, network for local atty..you can DIY an LLC, but id maybe get a local legal to do it ...a RE related...thats a one time thing, easy..

finding deals is the work..

@Daryle Henry Jr

Local REI meetings are the best. Find someone doing the job you want and help them (help is no cost to them). Hopefully they will teach you some methods.

LLCs serve as liability protection.  Sole proprietorship is another business entity.  Do you have a business model?  Can you explain it to someone in a couple mins?  

Keep it up.  

@Daryle Henry Jr

BEFORE you attend a meeting...think about a business model or plan.  

You can google search or library many books or thoughts on the topic.  A simple one is all you need.  

It would outline how do you conduct your business operations. Marketing, pitches, purchase options, network contacts, etc.  

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you