Posted by Nesan on April 07, 2011 at 19:37:23:
Thank you for your response
Rehab project as a company,confused with process! - Posted by Nesan
Posted by Nesan on April 03, 2011 at 09:01:19:
I am in Minnesota
I am going to get into rehab business, meaning buying homes,
modifying them and sell them. If I do this as an individual
in Minnesota, while selling, my spouse name will appear in
the title which I don?t prefer.
So, I am going to setup a company to do this business. Upon
some research I found that sole proprietorship would suit
better for me since it saves money also I don?t have any
need for LLC. Per Minnesota rule, sole proprietorship
companies need not register at the state if I am using my
full name for the business, and this is what I will be
doing.
Now my question is, while buying or selling a property how
will I prove that I am doing that transaction as a company
and not as an individual? MN does not require to register in
my case, and I don?t have any paper work to show.
Any advice will greatly be appreciated
Local Title Co - Posted by John Merchant
Posted by John Merchant on April 03, 2011 at 14:46:39:
The target you’ll have to please is your T Co from whom you’ll be buying T insurance when you sell.
So identify that T Co right now and get acquainted with its LPO (Ltd Practice Officer) who makes those decisions and tell him/her what you’re thinking…you’ll get some invaluable free advice on how to acquire, hold and then sell Invstmt RE.