Help - Lonnie Deals in Tx? Corp, LLC or what? - Posted by Jim Simons

Posted by A Miller on December 10, 1998 at 20:46:21:

When I started turning property I first got an appoint-
ment with a good real estate attorney referred to me
by the top escrow co. in the area. I made a list of
questions beforehand and took notes. He owned apartment
buildings himself and was creative and informative.
I was prepared to pay a consultation fee but he didnt charge me. Next I did the same with a good CPA. He didnt charge
either. They knew I would do business with them later.
So I had all the knowledge to start out when 95% of the
realtors I dealt with had no clue how to put deals
together creatively.
As an investor use the experts. DONT GET CAUGHT UP IN IN TRYING TO GET A P.H.D. IN REAL ESTATE. Concentrate on finding the deals. Thats where the money is! I know a lot of people out there that have
a lot of knowledge but dont make big money. The key to wealth is awareness of whats going on around you. It`s all about buy low and sell high.

Help - Lonnie Deals in Tx? Corp, LLC or what? - Posted by Jim Simons

Posted by Jim Simons on December 10, 1998 at 16:20:09:

I appologize if this topic has already been discussed, but I’m new to this forum and would appreciate any help you can give me.

Like I said, I’m new here and trying to get started in doing Lonnie Deals in Texas. Could anybody tell me the best way to go about getting started.I don’t think I’ll have too much trouble finding deals. What I’d like to know is - how would be the best way to go in setting up my business right from the start.

  • Would you happen to know of or recommend a good RE Attorney, RE Accountant and/or RE Broker in San Antonio.
  • Should I form a Corporation, an LLC or what
  • Are there any Legal roadblocks I should be aware of
  • How do you keep from being classified a dealer by the IRS
  • Any other information (Besides “Buy Lonnies Books and Courses” - I already intend to do that)- would be very appreciated.

Thanks and God Bless