if i want to become a landlord, should i be established as an llc?
597385
Talk to an attorney or real estate agent.  These yahoos on yahoo don't have any credentials.
15631
CREDIT Score is the big question.  If you have a decent credit score and enough income, then you might be a prospective home owner.  If you have a local credit union, contact them on mortgages available in your area.  Since credit unions are non-profit, they will most likely give you the best advice.  Another note on home ownership is the additional responsibilities, such as paying for water, garbage, gardening, painting, plumber, home insurance, etc that are usually taken care of my the landlord.
144406
Many entrepreneurs begin with a sole proprietorship, which is to say that they begin by doing business as the single owner of an unincorporated company. As such, a sole proprietorship is not a registered legal entity that is separate from its owner and therefore cannot technically be "changed" or converted to a limited liability company or a corporation, for that matter.\n\nInstead the sole proprietorship would cease to exist, and you would form a new LLC to conduct business. The cost involved comes from the filing of formal paperwork, usually called articles of organization, and the filing fee ranges from $40 to $900, depending on the state.
92497
You should get yourself a Lawyer to Incorporate your business.  Then it's relatively easy keeping the Corp. up
922516
There is no rule of thumb for this because it depends so much on the type of business you are looking at,its situation & how you want to launch it.Will you buy or rent a property or work from home?What equipment do you need & can it be bought in good condition 2nd-hand & thus save money?Why lawyers' fees?Does the type of business need a lawyer's input at this stage?What about accountants?They can be more useful in advising on the type of business to start with i.e sole trader/partnership/limited company?How to keep simple records,VAt registration,PAYE if you expect to have employees etc.I would advise finding a properly qualified accountant in a small practice.Their fees are usually less & you should get better treatment.the big firms are both horribly expensive & rather stuck-up.(Sorry,but I know a lot about this particular subject!)\n\n\n Why not do research via trade organisations etc & thus save \nhiring market reseachers?
512832
Yes, an LLC can be a member of another LLC.
158794
An LLC is a "limited liability company".  Best idea is to consult an attorney in your area.  Many law firms will offer busines formation services as a package deal - one price for everything.  The benefit of using an attorney is that you can be confident that everything is formed correctly, and that you understand all the rules and regulations surrounding your new business enterprise.  Good luck.
437526
As a sole prop, you first need to decide whether you will be doing biz as yourself, i.e., Jane Doe, or with a fictitious business name (aka DBA, doing-business-as).\n\nIf you will do business as yourself, then you just need to find out if there are any licensing requirments for your type of biz in your city/county/state.  Your local county recorders office can most definitely give you guidance on that.  If needed, obtain the necessary license, genrally by paying a reasonable fee.\n\nThen you need to open a bank account for your business.  Although you can use your current personal checking account (as a sole prop, you are allowed to do this), for accounting and business record purposes, not to mention taxes, it is adviseable you open a seperate account for the biz.\n\nIf you want to do biz under a fictitious biz name, you must pay a visit to your county recorder's office and file a DBA.  Once you have the DBA, you can open a checking account under the DBA name, i.e., Quality Window Cleaning.\n\nThose are the basics.  However, there is one very important thing you should do that is not technically "required".  And that is preparing a sound biz plan.  Put your ideas in writing.  Take the most important elements and come up with strategies on how you will market, finance and grow your biz.  Too many people fail to take this VERY important step and end up failing.  There are many business plan resources out there, many of them free.  Visit the web site for the SMall Business Administration for some free resources on this topic.\n\nGood luck on your endeavor and feel free to contact me at aizadpanah@yahoo.com with any questions.
363047
Ask now. Why wait? Get your name in first. I did the same thing in my old building (went from a studio to a one bedroom). The circumstances were slightly different, but it was no big deal. Call them today and set it up. If you've been a good tenant, there should be no problem and they'll be glad to rent it to someone already there.
380869
An LLC is treated as a proprietorship for tax purposes so if your income falls in a tax bracket below corporate rates you still have the lower taxes. An LLC does provide you with comparative protection against liability by separating your busines assets from your personal assets.You can also run more then 1 business in an LLC and not have to get tax id #'s for each business.  Check with a CPA he can evaluate your situation and recomend a business type.
225663
One of the benefits of LLC is that it does not have double taxation unlike corporations, while shielding your person from liabilities of the business (lawsuits for example will go after the business assets, not personal assets like a sole proprietorship). Check with your state if they will allow a one-person LLC.\n\nHere are some resources that can help you decide on your business structure:\n\nChoosing Your Legal Structure http://www.powerhomebiz.com/vol3/legalstructure.htm\nChoosing an LLC Structure for Your Business http://www.powerhomebiz.com/vol33/llc.htm\nLLCs vs. C Corporations http://www.powerhomebiz.com/vol97/llcs.htm\nS Corp. vs. LLC: Which Structure is Right for Your Business\nhttp://www.powerhomebiz.com/vol136/structure.htm\nLLC FAQ http://www.nolo.com/article.cfm/ObjectID/ED01121A-B4BF-498A-8BC0DBD121A0C869/catID/1745D9A3-D50D-4AAD-BFB3ED609A4EE3F5/111/FAQ/\n\nHere's a sample Operating Agreement for a 1-person LLC\nhttp://laweasy.com/forms/operating_agreement_for_one_llc_member.pdf
274481
We probably need more information to answer your question.\n\nA land trust will only provide limited protection to you as an investor/landlord.  All a land trust can really offer is anonymity to the trust beneficiary.  Your liability protection is provided by the LLC.  While land trusts are cheap to set up, doing so may not offer sufficient protection.  \n\nIn the end it really depends on what you want to accomplish.  Many beginning investors worry too much about how to set up entities and structure their deals.  My rule of thumb is you probably don't need more than a single LLC to hold your long term property investments. \n\nI would recommend that you discuss this with your attorney before making your final decision.
814079
A Limited Liability Company (LLC) has characteristics of a corporation and a partnership. An LLC allows its owners not to be personally liable for debts or liabilities of the business like a corporation, but have the tax benefits of partnerships. The owners of an LLC are called members which are somewhat analogous to shareholders. A member can be a natural person, a corporation, a partnership, or another legal association or entity. Unlike corporations or sole proprietorships, which may be formed by only one person, in most states, LLC's must be formed and managed by two or more members. The members may run the LLC themselves or through appointment of managers, who have similar levels of fiduciary duty to the LLC as do Directors of a corporation.\n\nLLCs are easier to create than corporations and forming one may be the best thing you can do for your business.   Here are the steps you need to take to make your LLC a legal reality.\n   1. Choose an available business name that complies with your state's LLC rules.\n   2. File formal paperwork, usually called articles of organization, and pay the filing fee (ranging from about $100 to $800, depending on your state's rules).\n   3. Create an LLC operating agreement, which sets out the rights and responsibilities of the LLC members.\n   4. Publish a notice of your intent to form an LLC (required in only a few states).\n   5. Obtain licenses and permits that may be required for your business.\n\nThe name of your LLC must comply with the rules of your state's LLC division. (Typically, this office is combined with the corporations division, and is part of the secretary of state's office.) While requirements differ from state to state, generally:\n    * the name cannot be the same as the name of another LLC on file with the LLC office\n    * the name must end with an LLC designator, such as "Limited Liability Company" or "Limited Company," or an abbreviation of one of these phrases (such as "LLC," "L.L.C.," or "Ltd. Liability Co."), and\n    * the name cannot include certain words prohibited by the state, such as Bank, Insurance, Corporation or City (state rules differ on which words are prohibited).\n\nYour state's LLC office can tell you how to find out whether your proposed name is available for your use. Often, for a small fee, you can reserve your LLC name for a short period of time until you file your articles of organization.\n\nAfter settling on a name, you must prepare and file "articles of organization" with your state's LLC filing office. While most states use the term "articles of organization" to refer to the basic document required to create an LLC, some states use the term "certificate of formation" or "certificate of organization."\n\nOne disadvantage of forming an LLC instead of a partnership or a sole proprietorship is that you'll have to pay a filing fee when you submit your articles of organization. In most states, the fees are modest, typically around $100. In a few others, they take a bigger bite: this includes California, which charges an $800 annual tax on top of its filing fee.\n\nArticles of organization are short, simple documents. You can usually prepare your own in just a few minutes by filling in the blanks and checking the boxes on a form provided by your state's filing office. Typically, you must provide only your LLC's name, its address, and sometimes the names of all of the owners, called members. Generally, all of the LLC owners may prepare and sign the articles, or they can appoint just one person to do so.\n\nYou will probably also be required to list the name and address of a person, usually one of the LLC members who will act as your LLC's "registered agent," or "agent for service of process." Your agent is the person who will receive legal papers in any future lawsuit involving your LLC.\n\nOper
806558
Yes.  Landlord associations within your city have every document you need.  Look for Landlord/Tenant under the government pages and if unable to locate there, call your local chamber of commerce and ask and they'll start directing you....may take a few calls, good luck.
701962
Just claim the income on your taxes for now and keep track of your expenses because you can deduct those (if you do itemized).  I wouldn't start a corporation.  Once you have one of those, you are on the IRS radar screen.  You will probably have to set up a business checking account to track stuff for your corporation, and that won't be free.  You aren't generating enough revenue right now to justify all the paperwork you'd have to keep track of with an LLC.
422279
First you would have to apply for a business license, before that though you should make sure to really research your items that you sell...or that your rental space will allow you to make a profit.  Its a good idea to make contacts with your suppliers now, that way you can see if its profitable business or something that will stress you out and barely keeping your head above water.
650948
Yes, I believe you may sign a lease as a representative of your company. All owners need not sign.