How Does One Obtain A LLC License???

Comments(10)

• 
  pejames29th December, 2003

  carljohnson315,
  I would also have the wife sit down and read some of these threads and explain to her what you are doing in detail. I had to do that a while back and now she wants to help me with my investing! Get her involved...it worked for me...good luck!
  
  
  
  
  Quote:
  On 2003-12-29 14:44, carljohnson315 wrote:
  Yes.... How does one obtain a LLC license in Georgia and.....what the hill is a LLC anyway.
  My wife insists that I get some sort of license to do real estate.
  
  Please help stop the naggin!!!!
  
  Peace and much success to U all...

• 
  BAMZ29th December, 2003

  Hi carljohnson315,
  
  If I'm not mistaken, I think you have merged two seperate items into one. If you want to incorporate or get an LLC to do business in, contact your friendly attorney. If you want to know licensing laws for your state, you will need to call the OBRE (Office of Banks and Real Estate).
  
  
  Best of Success!
  
  
  BAMZ

• 
  jeff1200229th December, 2003

  an LLC is a limited liability company. It is a particulat type of business structure. Kind of a hybrid between an corporation, and a limited liability partnership. The forms can be obtained through your state corporation commission offices.
  With regards to licensing, you can get a realtors license if you want to, however if you're not buying and selling for commissions, you don't need one for investing.
  
  (98% of all traffic accidents involve licensed drivers)
  
  Jeff

• 
  BAMZ29th December, 2003

  Very interesting statistics jeff! I like it!
  
  BAMZ

• 
  jonesoe3029th December, 2003

  As a real estate agent you are required to have a license. However, as a real estate investor and investing for your personal use...it is not a requirement. So like an earlier post stated...if you want to become an agent and earn a RE commission, be sure to get a license.

• 
  cpifer29th December, 2003

  pejames has a good point. Get the old lady involved or she will probably ruin you and/or your marriage.
  
  C-

• 
  richmonte29th December, 2003

  The thing that most people dont consider when putting assets into a corp is they defeated the purpoae of the corp. I have nothing but fully leveraged houses in my corp. The others I keep personally. It keeps the assets seperate

• 
  Sandbahr29th December, 2003

  Richmonte
  Please explain your comment above. I'm a little lost. "Having the corp defeats the purpose of the Corp"? Could you expand on that?

• 
  norrist31st December, 2003

  I'm not following either, Rich. What is the theory behind having only fully leveraged properties in the corporation?

• 
  mpldja1st January, 2004

  Carl,
  
  Don't worry. I have a couple of people who could do an LLC incorporation here in the ATL. PM me and I can give you a referral.
  
  In relation to how you should hold props... I understand the best way is to hold them in Trusts, with an out of state trustee and having your beneficial interest as the corporation (LLC, S, C, etc).