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Posted: 9/29/2007 11:24:39 AM EST
just wondering if anyone here had formed their own LLC and how difficult it was. if you were able to do it on your own or needed an attorney, etc.
Link Posted: 9/29/2007 12:29:56 PM EST
Just FYI,

I just set up a new LLC for my business and used a online group to handle the registration with the State. It cost me $526 to set up and get a fed tax ID. It was worth it to me as the fees to the state are around $340 but they took care of the name search, provided board items preprinted where I just needed to sign and date, stock certs., seal with co. name, and electronic forms for various activities like resolutions for bank accounts and notebook with all company docs. included.

Anyway it was worth it in time for me to not have to research the proper docs. and wording to get these on my own. This price also included all items FedEx overnighted to me and the State for quick processing. I signed up with them on the 10/2 and everything was complete and back from the state on 10/11 (slight delay due to company name issue 2 days). They worked with the State as they rejected my first submittal of a company name due to it being close to the same as another company that is no longer active in the state. They had good communication with me all through the process (email and even phone call on name issue)

You can search around there are many out there.

The site I used was: My New Company.com Link
Link Posted: 9/29/2007 12:58:27 PM EST
I was kicking around the idea of trying it myself just because my girlfriend is an attorney and I thought we could do it ourselves. But that does sound pretty convenient and the price seems reasonable.
Link Posted: 9/29/2007 5:03:54 PM EST
I converted my IRA to a self directed IRA.
My IRA now owns an Investment LLC that I am the manager of.
Go to checkbookIRA.com EZ and low cost
Link Posted: 9/29/2007 5:10:33 PM EST

Originally Posted By MTUSA:
I converted my IRA to a self directed IRA.
My IRA now owns an Investment LLC that I am the manager of.
Go to checkbookIRA.com EZ and low cost


i've been attempting to learn more about finance lately, can you tell me the reason you did this, thanks, joe
Link Posted: 9/29/2007 5:47:22 PM EST
Fill-in-the-blank forms online on the Texas Secretary of State Website. I did my own LLC a while back. Piece of cake.
Link Posted: 9/30/2007 6:14:50 AM EST
[Last Edit: 9/30/2007 6:16:36 AM EST by MTUSA]

Originally Posted By Joe-A275:

Originally Posted By MTUSA:
I converted my IRA to a self directed IRA.
My IRA now owns an Investment LLC that I am the manager of.
Go to checkbookIRA.com EZ and low cost


i've been attempting to learn more about finance lately, can you tell me the reason you did this, thanks, joe


I wanted control on how to invest my Federal IRA. (TSP)
Rather than mandated Gubment' T- bills or Stock Funds to choose from
I preferred to have control on what I can invest in.
I chose Real Estate. You must adhere to IRS guidelines to avoid any self dealing.
Its not that complicated. I bought some small land parcels in Arkansas and Alabama.
My speculation is in 10 years these parcels should (I hope) will yield me at least
20- 70% on my return as opposed to 5-6% on the T- bills.
If they don't, I pissed away $100K
Talking to people who know the game helps. Thats how I learned.
Over the years I was fortunate enough to come in contact with the right people.
Good luck.
Link Posted: 9/30/2007 6:20:29 AM EST
I have set up 5 for myself in seperate businesses and numerous ones for business partners via the internet along with LLP's. Very simple process. Takes maybe 10 minutes.
Link Posted: 9/30/2007 7:45:58 AM EST

Originally Posted By MTUSA:

Originally Posted By Joe-A275:

Originally Posted By MTUSA:
I converted my IRA to a self directed IRA.
My IRA now owns an Investment LLC that I am the manager of.
Go to checkbookIRA.com EZ and low cost


i've been attempting to learn more about finance lately, can you tell me the reason you did this, thanks, joe


I wanted control on how to invest my Federal IRA. (TSP)
Rather than mandated Gubment' T- bills or Stock Funds to choose from
I preferred to have control on what I can invest in.
I chose Real Estate. You must adhere to IRS guidelines to avoid any self dealing.
Its not that complicated. I bought some small land parcels in Arkansas and Alabama.
My speculation is in 10 years these parcels should (I hope) will yield me at least
20- 70% on my return as opposed to 5-6% on the T- bills.
If they don't, I pissed away $100K
Talking to people who know the game helps. Thats how I learned.
Over the years I was fortunate enough to come in contact with the right people.
Good luck.


thank you, that makes alot of sense, making a note of it for when we convert our 401k to an ira, thanks again. joe
Link Posted: 9/30/2007 9:07:30 AM EST
Good info here.
Link Posted: 10/11/2007 1:28:03 PM EST

Originally Posted By Keith-TX:
Fill-in-the-blank forms online on the Texas Secretary of State Website. I did my own LLC a while back. Piece of cake.


Yep, I did mine using the pdf forms online and it took maybe 15 minutes and faxed it to the SOS. they should I should have something back as quick as the next day.
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