Join the Rich Dad Community Forum and learn about cash flow.

Articles Blogs Events Calendar Forum Glossary News Feeds Tools Updates

The Power of Owning your own Corporation Discuss the benefits of owning your own Corporation with Garret Sutton, our Rich Dad Advisor for Corporations.

Rich Dad > The Power of Owning your own Corporation > How you formed your LLC

Advanced member

Chris B - 12/11/2011 3:15:05 PM

How you formed your LLC

So I think I've located my first investment property (waiting on an analysis) and determined that it is probably best to start the llc now and acquire the property under that entity. Just met with some business formation lawyers, who gave me an initial quote of $12000 minus the. Linty licensing fee. Apparently they are charging at the lower end too.

My question is whether or not this is an average or optimal pricing and whether or not you would recommend me going with the lawyers or try to form the llc through an online service. How did you do it?

Thanks again for all the help that helped me get to this point!!

Reply | Quote


Member	Andrew63 - 1/1/2012 2:18:11 PM RE:How you formed your LLC $12000! Seriously? Where are you? Did mine through an attorney for $750. I now know how to establish one on-line directly with my state for about $130 Reply \| Quote

Member

Gettinonthetrain - 1/2/2012 2:42:10 PM

RE:How you formed your LLC

Andrew63 wrote: $12000! Seriously?

Where are you?

Did mine through an attorney for $750. I now know how to establish one online directly with my state for about $130

+1.... I have already filled out the info on Legalzoom.com to the point where they could quote me a price, it came in around $750......They were able to tell me that going through normal legal channels would have cost me an extra $2400, so $12000 is definately excessive. If you just feel you need to use a regular lawyer I would definately check around...........

Reply | Quote


Advanced member	Chris B - 1/9/2012 3:56:58 PM RE:How you formed your LLC Hmm, so the moral of this post is to not try to use an iPhone to create threads. Major typo there guys: it was only $1,200. Sorry I didn't catch that earlier. Reply \| Quote


Advanced member	brian - 1/10/2012 3:31:51 PM RE:How you formed your LLC Never mind Chris,at least you created a bit of a stir ... All the best Brian. www.brianaddybootcamp.com Reply \| Quote


Advanced member	Chris B - 1/10/2012 5:33:11 PM RE:How you formed your LLC Haha, totally unintentional. Looks like autocorrect also changed "county licensing fee" to "Linty licensing fee". .. Reply \| Quote