Posted by jeff on April 22, 2002 at 17:54:39:
you dont NEED an LLC or coororation to do anything, but its advisable if you plan on doing this as a business. itll seperate your current assets from the business assets in case something blows up in your face and you start receiving lawsuits against you. they may BK the business, but yuor personal assets will be safe, unless you commited an illegal act personally or backed a loan or somethign in your own name (which your gonan have to do to qualify for anything). but yuo wont normally run into problems on the loan side of the deals, the problems are usually with the peopel you deal with, thats where the LLC comes in handy.
as far as your name you got picked uot already, GOOD LUCK! there are alot of LLc in the game before you started, theres a nice slice of names already taken. you may get lucky, i did, but dont be blabbing that name around much until you get it reserved.
abandoned properties arent usually that tough to figure out unless you got somethgin that has been abandoned for several years. neighbors may know the owner, public records will most of the time have owner’s names (unless its in a trust, at which point i have to offer my first advice to you again, GOOD LUCK!), leave yuor card on the door with a note to call you and why. but in all turthfulness, i have to give credit where its due here, the MAIN MAN in the investment game on this type of thing happens to be none other than JOE KAISER. he has written an article or two about it in the “how-to” section of this site. he also hangs around these very boards. he has abuot 100 times more ways of doing this than i do, maybe hell add his 100 bucks worth and hook you up. if not you can try to email him frmo here, just find one of his other posts and give it a shot, but i cant really say if he answeres them or not. he seems to have an attitude (which i personally love) so yuo may not want his reply even if you get it. LOL
i hope i didnt brown nose too much there??? atleast hope i didnt get it all over my new shirt anyway.
all joking aside, he is the king at this and has better advice than anyone else youll run into on this particular subject.
after you locate the owner’s of the properties, its up to your negotiation skills as to whether they are obtainable or not. but most vacant property is obtainable, and usually at the right price, since it is an encumberance on the back of the owner’s, USUALLY.