setting up corp on internet?
Hello-
I'm a newbie wannabe investor who is considering setting up a corporation of some type for asset protection. I've seen internet sites that offer to do this, and was wondering if these were fairly reputable or if I should really go talk to an attorney in person. Also, what do you think of a C-corp vs. an LLC for holding property?
Thanks,
Ted
Ted,
Glad to meet you.
To set up your corporate entity properly you should constult with a Tax Advisor and an Attorney. Then base your decision on what type of entity you will need.
You can purchase a Corporation over the internet it may cost less, but sometimes it is not about saving money especially when it comes to starting your investing career the right way.
Welcome on board this board, have you picked your method of investing yet? If not stay tuned here at TCI plenty of investors willing to help guide you.
John $Cash$ Locke
Thanks for the reply. I'm trying to start w/ flipping or doing minor fix-up work and then reselling to build up some cash; then get into holding properties.
I think I'm going to order your book "Big Bucks Bird Dogging," as another way to start building cash flow.
One other question, may not be right for this forum...I live in an area that has mostly condo buildings-any suggestions on how to locate distressed properties in this type of area?
Thanks again your answer to my original question.
Ted