Craig 0 Report post Posted July 14, 2006 I finally filled for corp in NV just to shield assets. Just another step. Share this post Link to post Share on other sites
leejohnw 0 Report post Posted July 14, 2006 I finally filled for corp in NV just to shield assets. Just another step. Hi Craig,Could you give me some detail on how you did it? I have a partner in NJ and we want to form an LLC for our REI company. I'm trying to do everything online since I'm currently in Kuwait. thx.John Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 14, 2006 John? That John? Good to hear from you! Hope all is well. Stay low, stay safe! Share this post Link to post Share on other sites
leejohnw 0 Report post Posted July 14, 2006 John? That John? Good to hear from you! Hope all is well. Stay low, stay safe! Uh, yea that John . Been in Kuwait since June and back to Iraq in Sept. Real Estate lesson in the Middle East: Can't buy houses here unless you are a Kuwaiti.Lesson #2: Driving in Kuwait is more dangerous than ducking mortars in Iraq Lesson #3: Don't look for a house in a sandstorm! John Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 14, 2006 Real Estate lesson in the Middle East: Can't buy houses here unless you are a Kuwaiti.Can't you just wrap a towel around your head and grow a goatee? Who'll know? Share this post Link to post Share on other sites
leejohnw 0 Report post Posted July 14, 2006 Real Estate lesson in the Middle East: Can't buy houses here unless you are a Kuwaiti.Can't you just wrap a towel around your head and grow a goatee? Who'll know? The last thing I need is to get my butt shot by my own soldiers If I see an insurgent, I'll just show them a picture of you in the speedo. We must really be confusing Craig. Share this post Link to post Share on other sites
transactionsengineer 0 Report post Posted July 20, 2006 Uh, yea that John . Been in Kuwait since June and back to Iraq in Sept. Real Estate lesson in the Middle East: Can't buy houses here unless you are a Kuwaiti.Lesson #2: Driving in Kuwait is more dangerous than ducking mortars in Iraq Lesson #3: Don't look for a house in a sandstorm! John You can definitely buy property in Kuwait and not be Kuwaiti. It is all about money. They also believe in the 99 year mortgage. As for your question about setting up a corp here in NJ. Yes, I live in NJ. If I were to incorporate an LLC, I would do it in Delaware. Delaware has advantages that NV does not such as $50 annual resident agent fee for the life of the corporation and setting classes of distribution within your LLC for estate planning purposes. Keep in mind that if your property is in NJ, no matter what state you incorporate in, you will need to file a foreign corporation in your home state to protect your assets. Daniel Ng, JD/LL.BForeign Exchange Speculatorhttp://www.tradetheyen.com Share this post Link to post Share on other sites
prservices 0 Report post Posted August 22, 2006 I've gone in circles with this topic. Ultimitely my accountant pursauded me to terminate my NV corp. Keep in mind several things. When you have a corp in NV you must have a resident agant, must have "a place of doing business" (there are services you can hire for this), and pay NV fees every year. Also you must still register you Corp in your state. Check your state requirements. I know CA charges $900 a year to do business with an out of state corp. Share this post Link to post Share on other sites
filthyphil55 0 Report post Posted September 5, 2006 i too have a question about creating and LLC or corp........should this be done before i start doing any deals or is it just a good idea to have.....obvisously to proctect me.my friend just bought a LLC online for $600, and he has one rental in ATL......renting with section 8 Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 5, 2006 i too have a question about creating and LLC or corp........should this be done before i start doing any deals or is it just a good idea to have.....obvisously to proctect me.my friend just bought a LLC online for $600, and he has one rental in ATL......renting with section 8$600 for an LLC in Georgia? Why?? I did a quick look on the GA Secretary of State website, and the cost is only $100. Share this post Link to post Share on other sites
Craig 0 Report post Posted September 5, 2006 i my friend just bought a LLC online for $600, and he has one rental in ATL......renting with section 8$600 for an LLC in Georgia? Why?? I did a quick look on the GA Secretary of State website, and the cost is only $100. Jimmy Carters from that state and thats Peanuts...remember those interest rates Michael. Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted September 6, 2006 should this be done before i start doing any deals or is it just a good idea to have.....obvisously to proctect me. It's a personal call, really.I did deals before I set up my LLC. Go out and do your first few deals, see if you like the business, and then makeyour decision accordingly. Good luck. Share this post Link to post Share on other sites
