Posted by Jeff on February 28, 2002 at 10:30:08:
I have started gathering everything needed to begin in the note business. It looks like many recommend setting up as LLC or Corp. to protect from liability. Other post state that you don't need a license and/or to incorporate. A local business license is not really an issue. $50 or so-no biggie. With the plan of buying/selling notes nationwide, I am also wondering if I have to register in each state as a foreign company. Conplex, maybe but trying to cover each base. I wonder if there is really any true liability with the notes business.
(My plans are to "buy" notes and refer or sell them to large buyers. To market to CPAs, Lawyers, Realtors, etc. I would think they would be more likely to respond or refer clients to a "company" vs. "Joe Buyer- Note Investor".)Any ideas?
Jeff