Author Topic: just started the first LLC company!  (Read 3253 times)

Mr Mark

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just started the first LLC company!
« on: March 21, 2014, 03:57:11 PM »
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

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Re: just started the first LLC company!
« Reply #1 on: March 21, 2014, 07:16:24 PM »
Congrats!  First steps, naturally, are to order yourself a few hookers on the company credit card in celebration!
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
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Hamster

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Re: just started the first LLC company!
« Reply #2 on: March 21, 2014, 09:08:47 PM »
Congrats!  First steps, naturally, are to order yourself a few hookers on the company credit card in celebration!
Spoken like a true Nevadan! :-)

arebelspy

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Re: just started the first LLC company!
« Reply #3 on: March 22, 2014, 07:01:19 AM »
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.

;)
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Mr Mark

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Re: just started the first LLC company!
« Reply #4 on: March 22, 2014, 12:27:40 PM »
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

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Re: just started the first LLC company!
« Reply #5 on: March 22, 2014, 12:28:43 PM »
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?
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Mr Mark

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Re: just started the first LLC company!
« Reply #6 on: March 22, 2014, 01:06:01 PM »
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

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Re: just started the first LLC company!
« Reply #7 on: March 22, 2014, 01:11:45 PM »
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!
« Last Edit: March 22, 2014, 01:13:36 PM by arebelspy »
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Mr Mark

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Re: just started the first LLC company!
« Reply #8 on: March 22, 2014, 03:07:36 PM »
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

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Re: just started the first LLC company!
« Reply #9 on: March 22, 2014, 04:45:52 PM »
Ahh, makes sense, FI but not ER. Cool.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.