Posted by soapymac on June 14, 2000 at 17:26:38:
whether or not an LLC is the best way to protect yourself or not. That is something that should be decided by your personal advisors (CPA, attorney, your own business plan)…
YOUR OWN BUSINESS PLAN???
Yep. That’s what I said…and here’s why I said it.
Doing “Lonnie Deals” is a great way to make some cash. How much? “Good enough,” as Lonnie has said. But it is not the only way to make money in the niche that I call Mobile Home investing.
You can buy low and sell on terms…rent 'em out…buy a park and rent the dirt…buy a park, rent the dirt, and buy and sell the homes that are in the park…just do MH paper for park owners who do not want to get involved with it…take your pick.
You may also, some day want to do L/O’s, “flips,” rehabs, foreclosures…take your pick again.
It all depends on your BUSINESS PLAN…what you want to do. It’s what you want to do that will determine the form of your company. When you have a business plan written…even if it is only ONE page long…THEN your advisors will be able to give you the answer that you want.
Please, I’m not trying to give you a blowhard-type of answer. From all the posts I’ve seen on this site, I can assure you your question is, indeed, a valid one. However, it should be answered in its proper order…and the proper order is to start with a PLAN.
Cordially,
Roy MacLean
“soapymac”