just started the first LLC company!

[Mr Mark]

I know it's not big news for many of you, but was very happy to get confirmation that 'The Secretary of State' has approved our application for a limited liabilty company, and we have a tax id number too.

Opperating agreement done.

woohoo!

any tips on next steps?

[arebelspy]

Congrats!  First steps, naturally, are to order yourself a few hookers on the company credit card in celebration!

[Hamster]

Congrats!  First steps, naturally, are to order yourself a few hookers on the company credit card in celebration!

Spoken like a true Nevadan! :-)

[arebelspy]

Congrats!  First steps, naturally, are to order yourself a few hookers on the company credit card in celebration!

Spoken like a true Nevadan businessman! :-)

Fixed.

;)

[Mr Mark]

Cheers guys!

I am loving bigger pockets. These guys - and MMM - are really part of the new economy.

Into the real estate market we go!

[arebelspy]

Cheers guys!

I am loving bigger pockets. These guys - and MMM - are really part of the new economy.

Into the real estate market we go!

Awesome! What type of real estate investing are you planning on doing?

[Mr Mark]

A mix.

Detroit is a pretty unique situation,  real estate wise. Id like to get a commercial property,  but the issue is the lack of tenants!

But value improving essentially.  Duplex fix ups, buy and hold quality land for later development,  small commercial,  ...

early days. A whole lot of networking and learning to do first! We've been here around 5 years and are just getting to have a feel for the market.

[arebelspy]

Yeah, I was just talking commercial with an investor there this morning, and talking about a potential fourplex in the area.

I haven't done any of what your doing (duplex fix ups, holding land, or small commericals), at least not there in MI, all my holdings out there are SFRs.

For example, I've bought some in Warren, Roseville, and Eastpointe in the last few months.

I think there's some great potential there.

Interesting that you're starting now, when under your location it says aiming for FI in summer 2014. Are you looking for extra cash flow for FI? Starting a business six months before FIRE seems like an unusual thing.  Planning to do it part time as semi-ER, or what?

Good luck, would love to hear your thoughts on your market and keep us updated on how it goes!

[Mr Mark]

Ahh, AREBELSPY, you should know the difference!

I figure I made my FI  target - on paper  - a few months early. A mill in net worth, no debt and a paid for house.

but circumstances mean the RE part isn't what I want to do right now. It's very liberating to have the FO money, and now I have the liquidity and capital to branch out from vanguard and leverage local business opportunities here, which are there.

Meanwhile, the day job is awesome, and does allow easier financing for deals I suspect. So the plan is very much planting seeds for a more substantial business later, but baby steps.

[arebelspy]

Ahh, makes sense, FI but not ER. Cool.