Sorry, my mom is a Shakespeare buff and she would be proud :lol: So I was just about to go to the County Courthouse to file for an Assumed Name(DBA) but now I'm considering starting an LLC for multiple reasons and I'm curious as to what your opinions are.A little about me:I have not yet done a dealI have been studying for some time and I'm ready to get startedI have every intention of doing this full-time but I will not quit my day job until it's a realistic possibility(1-3 years)My only assets are my house which is homesteaded and a car with 100,000 miles and serious hail damage so I'm not concerned with asset protection at this pointI am interested in wholesaling/rehabbing(rentals in the near future)I have $10K-$20K startup capital I will be using Hard Money for my first several rehabsI have excellent credit (771)I am now thinking about starting an LLC in Texas(one-time $300 filing fee)for my rehabs because I want to build up business credit and season my company so I figure I might as well start now.Once I acquire rentals I will definitely setup an LLC but that is not an issue yet.Given the information, should I form an LLC or just do my first few deals as a sole proprietor and then get my LLC?

It may also be local Dependant so I would check with some others in your area on those laws.On another note you may want to make sure the people you are sending listings to are agreeing to pay you a bird dogging fee.

I can typically get between 3 and 5k for a wholesale fee depending how the numbers work.

And there is the 5% realtor fee the bank would have to pay.

Also, for those who truly still have faith in the project (the Westin Grande Imagine is already open for business) where can they obtain Condotel financing with 20% down and not pay a fortune in misc fees to get it.

Most of those companies charge several hundred dollars, plus the state filing fees.

Besides the obvious fact that you have a cheaper liability, you'll also save on the friction costs that come with getting a new loan (broker fees, etc...).

The bank wanted about 10-10 1/2%, market at the time was about 8 IIRC, 4 points, another one for origination and between $1500-$2K in JUNK fees.

You want them to spend your money like it is there's.8. contractors/maintenanceMake sure your contractor bids your jobs at cost and shows you his fees.

Like hard money lenders.So if the end buyer is a conventional lender, then pretty much nix the double closing and go with a cash assignment fee instead?