Tuesday, February 20, 2018
blue-starinspections.com
Go check out my new home inspection website at www.blue-starinspections.com.
Monday, April 25, 2016
Quitting Your Job Using Rental Properties - Day 76
April 25, 2016 - Day 76
Well, a lot has happened since my last post. Both of the houses we looked at with Melinda were under contract by the time we decided to place an offer. In the last 3 weeks we have probably looked at about 10 different places. There was another one that we looked at here in Corpus that we were very interested in. We told Melinda we wanted to place an offer on the house. She wrote up the offer, but then she said that she couldn't get a hold of the realtor. It just so happened that the seller's agent was a contact of mine of LinkedIn.com. He told me that he had already talked to Melinda, and that it was under contract. Melinda never told us this, I think she was embarrassed because there were a few others before that which were under contract when we wanted to bid on them.
I have started a LinkedIn campaign in order to build a Real Estate Team. I am connecting with agents, bankers, lawyers, inspectors, pretty much anybody who I think may be able to help us out along the way. I have only contacted a couple of people, but they are there if and when I need them. This way, I don't have to stress about being able to find a handyman or accountant when I need one.
On Wednesday of last week, (it's Monday morning at the time of writing this) Melinda texted us with a property in Portland, Tx. that is an estate sale. Portland is in an area near the Port of Corpus Christi LaQuinta Terminal that is expanding and growing tremendously. It is a short drive across the Corpus Christi Bay to Corpus, and is becoming a very desirable place to live. I met Melinda at the property after work on Wednesday, Angela was not feeling well. When we got there, there was no key. Melinda was embarrassed and called the agent. The agent said she wouldn't have the key until Friday. She said she would take the listing down, and not relist it until after we had a chance to look at it. So Friday after work, Angela and I met Melinda at the house in Portland. We walked through and liked what we saw. There will be some remodeling costs and one major challenge. The back porch was closed in. The flooring of the enclosure is concrete that is cracked and uneven. It will be a challenge trying to figure out what to do with it. Anyways, we called Melinda later that night and told her we would like to place an offer on the house. The asking price is $94,900 and we placed an offer the next day for $87,000. We should hear something back later this afternoon. I'll keep y'all updated.
Although we have been a little frustrated, we are still feeling excited.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
Well, a lot has happened since my last post. Both of the houses we looked at with Melinda were under contract by the time we decided to place an offer. In the last 3 weeks we have probably looked at about 10 different places. There was another one that we looked at here in Corpus that we were very interested in. We told Melinda we wanted to place an offer on the house. She wrote up the offer, but then she said that she couldn't get a hold of the realtor. It just so happened that the seller's agent was a contact of mine of LinkedIn.com. He told me that he had already talked to Melinda, and that it was under contract. Melinda never told us this, I think she was embarrassed because there were a few others before that which were under contract when we wanted to bid on them.
I have started a LinkedIn campaign in order to build a Real Estate Team. I am connecting with agents, bankers, lawyers, inspectors, pretty much anybody who I think may be able to help us out along the way. I have only contacted a couple of people, but they are there if and when I need them. This way, I don't have to stress about being able to find a handyman or accountant when I need one.
On Wednesday of last week, (it's Monday morning at the time of writing this) Melinda texted us with a property in Portland, Tx. that is an estate sale. Portland is in an area near the Port of Corpus Christi LaQuinta Terminal that is expanding and growing tremendously. It is a short drive across the Corpus Christi Bay to Corpus, and is becoming a very desirable place to live. I met Melinda at the property after work on Wednesday, Angela was not feeling well. When we got there, there was no key. Melinda was embarrassed and called the agent. The agent said she wouldn't have the key until Friday. She said she would take the listing down, and not relist it until after we had a chance to look at it. So Friday after work, Angela and I met Melinda at the house in Portland. We walked through and liked what we saw. There will be some remodeling costs and one major challenge. The back porch was closed in. The flooring of the enclosure is concrete that is cracked and uneven. It will be a challenge trying to figure out what to do with it. Anyways, we called Melinda later that night and told her we would like to place an offer on the house. The asking price is $94,900 and we placed an offer the next day for $87,000. We should hear something back later this afternoon. I'll keep y'all updated.
Although we have been a little frustrated, we are still feeling excited.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
Friday, April 8, 2016
Quitting Your Job Using Rental Properties - Day 59
Day 59 - April 8, 2016
On Monday morning, when I left for work, my truck had a flat tire. Luckily, I have my weekend truck, Rusty, so I hopped in. Rusty is a 1992 Dodge Cummins that is fixed up really nice. When I got to my exit for work, steam started coming from my engine. Turns out, my radiator blew a hole. So I called my brother who sent my dad with a trailer to come pick Rusty up. When I got home from work, I changed out the flat tire, and the next day I dropped off my truck to get new tires and an alignment. Why does it seem like these things always happen on Monday. That, along with a possible new job opportunity that fell into my lap (more on that in a later post), and the rental property activity which I will describe below, made for a busy week.
Back in December, I was doing a lot of marketing on facebook for my sign business YRL Enterprises. My plan was to target real estate agents, show them my work, and suggest to them that my signs would make great closing gifts for their clients. Very few realtors responded, and nobody bought anything. On Monday of this week while I was out to lunch, I got a facebook message from one of these realtors, we'll call her Melinda, asking about the signs in the message. I replied with the information on the signs and then said, "by the way, my wife and I are looking to purchase an investment rental property, let me know if you come across anything."
We are not unhappy with Gibo, he's just too busy to get anything done for us. He mentioned in a facebook post that he had 20 houses in escrow and 20 houses listed. At this point I am not sure how rare or hard that is to accomplish, but I have a feeling when I understand it I'm going to be surprised. All I know is, we haven't really heard from him. We never signed an agreement with him, and if he calls us with another property, we will certainly go look at it. I'm not sure, but I think as an investor, we have the freedom to talk to as many real estate agents as we want to.
Anyways, the next day, I got an email from Melinda with a list of 10 potential properties to look at. We eliminated 8 of them that didn't meet our criteria, i.e. not enough bedrooms or bathrooms, a little too high on price, one was a mobile home, etc. So that left 2 that we wanted to look at. The first one was in zip code 78412 in Corpus Christi, and within walking distance to the malls. It is a 3br 2bath single family home in a decent neighborhood for sale for $87k. It had some upgrades including paint inside and out, but needed new appliances, and new floors. Estimated monthly rent income for this house is $950-$1000/month. Preliminary number indicate that in order for this property to work out, we would need to purchase it for around $70k.
The second property is in zip code 78362 in Ingleside. Industry in the area near Ingleside is exploding, so we anticipate the need for housing to be on the rise. This property is a bank foreclosure, and needs a lot of work. It is listed at $88k and we estimate it needs $8-10k worth of work. The house needs new carpet in the bedrooms, new tile in the bedrooms/kitchen. Paint inside and out. Holes in the sheetrock patched. New appliances. And then there's the back yard. I should have taken a picture. The back yard was ridiculously overgrown. Worse than anything I have ever seen. The weeds were as tall as me all throughout. Then there was a pile of some kind of vegetation that had grown up in a pyramid shape as tall as the house. Melinda said that banks usually take longer to reply to your offer (up to 2-3 months). I think if we can get this house for around $70k, we'll be ok.
It's starting to get really exciting. We could be weeks away from purchasing our first rental property.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
On Monday morning, when I left for work, my truck had a flat tire. Luckily, I have my weekend truck, Rusty, so I hopped in. Rusty is a 1992 Dodge Cummins that is fixed up really nice. When I got to my exit for work, steam started coming from my engine. Turns out, my radiator blew a hole. So I called my brother who sent my dad with a trailer to come pick Rusty up. When I got home from work, I changed out the flat tire, and the next day I dropped off my truck to get new tires and an alignment. Why does it seem like these things always happen on Monday. That, along with a possible new job opportunity that fell into my lap (more on that in a later post), and the rental property activity which I will describe below, made for a busy week.
Back in December, I was doing a lot of marketing on facebook for my sign business YRL Enterprises. My plan was to target real estate agents, show them my work, and suggest to them that my signs would make great closing gifts for their clients. Very few realtors responded, and nobody bought anything. On Monday of this week while I was out to lunch, I got a facebook message from one of these realtors, we'll call her Melinda, asking about the signs in the message. I replied with the information on the signs and then said, "by the way, my wife and I are looking to purchase an investment rental property, let me know if you come across anything."
We are not unhappy with Gibo, he's just too busy to get anything done for us. He mentioned in a facebook post that he had 20 houses in escrow and 20 houses listed. At this point I am not sure how rare or hard that is to accomplish, but I have a feeling when I understand it I'm going to be surprised. All I know is, we haven't really heard from him. We never signed an agreement with him, and if he calls us with another property, we will certainly go look at it. I'm not sure, but I think as an investor, we have the freedom to talk to as many real estate agents as we want to.
Anyways, the next day, I got an email from Melinda with a list of 10 potential properties to look at. We eliminated 8 of them that didn't meet our criteria, i.e. not enough bedrooms or bathrooms, a little too high on price, one was a mobile home, etc. So that left 2 that we wanted to look at. The first one was in zip code 78412 in Corpus Christi, and within walking distance to the malls. It is a 3br 2bath single family home in a decent neighborhood for sale for $87k. It had some upgrades including paint inside and out, but needed new appliances, and new floors. Estimated monthly rent income for this house is $950-$1000/month. Preliminary number indicate that in order for this property to work out, we would need to purchase it for around $70k.
The second property is in zip code 78362 in Ingleside. Industry in the area near Ingleside is exploding, so we anticipate the need for housing to be on the rise. This property is a bank foreclosure, and needs a lot of work. It is listed at $88k and we estimate it needs $8-10k worth of work. The house needs new carpet in the bedrooms, new tile in the bedrooms/kitchen. Paint inside and out. Holes in the sheetrock patched. New appliances. And then there's the back yard. I should have taken a picture. The back yard was ridiculously overgrown. Worse than anything I have ever seen. The weeds were as tall as me all throughout. Then there was a pile of some kind of vegetation that had grown up in a pyramid shape as tall as the house. Melinda said that banks usually take longer to reply to your offer (up to 2-3 months). I think if we can get this house for around $70k, we'll be ok.
It's starting to get really exciting. We could be weeks away from purchasing our first rental property.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
Thursday, March 31, 2016
Quitting Your Job Using Rental Properties - Day 51
Day 51 - March 31, 2016
Yesterday, Angela got a text from Gibo about a house for sale that he wanted us to look at. The seller is desperate. It had been on the market for a while. The original listing price was $110k, then dropped to $85k, and two days ago dropped to $75k. Gibo's selling points were that it had central A/C, includes appliances, and ready to rent now. He said he thinks we could get $900-$1000 a month in rent for it. I researched some similar rental properties in the area, and $900-1000 is about right for this area.
I ran some numbers on the house, and found it to have a cap rate of 14.7% and a cash on cash return of 21%. Sounds very good. The problem that we saw was that the property has an appraisal value of $44k, and the asking price is $75k. Maybe this is normal, I don't know, but I looked up the appraisal value of my current residence when I bought it on 2009, and it matched very closely with what I paid for it.
The house was vacant, and had a combo lock, so Angela, the kids and I stopped by after I got out of work. First of all, let me say that this house is in a very run down neighborhood. It is not a place that I would want to live in. We did see the potential in the house though. It did need some work. The floors would have to be completely redone. The countertops in the kitchen are not in great shape and kind of ugly. Angela wants to add a dishwasher. I want to redo the sidewalk in the front of the house that leads to the front door. On top of this, the type of tenant which this property will attract is not really something that we want to deal with. All in all, for being the first house that we looked at, I'm excited that it can basically only go up from here.
We did find another house online today that we are interested in. It is in a much nicer neighborhood. The seller is selling as it for $90k. The initial value online is around $116k. I'm pretty sure we could rent it for $1200 or more. Angela sent Gibo a text last night telling him that we looked at the house he recommended, and that we were interested in looking at this other house. We'll see how he responds.
I'm still very excited and optimistic about quitting my job with rental properties.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
Yesterday, Angela got a text from Gibo about a house for sale that he wanted us to look at. The seller is desperate. It had been on the market for a while. The original listing price was $110k, then dropped to $85k, and two days ago dropped to $75k. Gibo's selling points were that it had central A/C, includes appliances, and ready to rent now. He said he thinks we could get $900-$1000 a month in rent for it. I researched some similar rental properties in the area, and $900-1000 is about right for this area.
I ran some numbers on the house, and found it to have a cap rate of 14.7% and a cash on cash return of 21%. Sounds very good. The problem that we saw was that the property has an appraisal value of $44k, and the asking price is $75k. Maybe this is normal, I don't know, but I looked up the appraisal value of my current residence when I bought it on 2009, and it matched very closely with what I paid for it.
The house was vacant, and had a combo lock, so Angela, the kids and I stopped by after I got out of work. First of all, let me say that this house is in a very run down neighborhood. It is not a place that I would want to live in. We did see the potential in the house though. It did need some work. The floors would have to be completely redone. The countertops in the kitchen are not in great shape and kind of ugly. Angela wants to add a dishwasher. I want to redo the sidewalk in the front of the house that leads to the front door. On top of this, the type of tenant which this property will attract is not really something that we want to deal with. All in all, for being the first house that we looked at, I'm excited that it can basically only go up from here.
We did find another house online today that we are interested in. It is in a much nicer neighborhood. The seller is selling as it for $90k. The initial value online is around $116k. I'm pretty sure we could rent it for $1200 or more. Angela sent Gibo a text last night telling him that we looked at the house he recommended, and that we were interested in looking at this other house. We'll see how he responds.
I'm still very excited and optimistic about quitting my job with rental properties.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
Wednesday, March 30, 2016
Quitting Your Job Using Rental Properties - Day 50
Day 50 - March 30, 2016
So, we received our LLC paperwork on March 10th, 2016. I also applied for and received our EIN tax number from the IRS. It is a very simple process. Just go to IRS.gov and the process is very simple. You will get your EIN immediately. Do not pay legalzoom or anybody else to obtain your EIN number. It is a very simple process.
On March 21st, Angela and I went to our local Prosperity Bank to open up a business checking account. We chose the account which is free as long as you keep $3500 minimum in your account. We had about $750 in cash from a garage sale that we had and from my side business facebook.com/yrlenterprises. We pulled the rest from out savings account.
We then asked to speak with a banker. The lady we talked to, we'll call her Trish, was somewhat helpful. I kind of got the feeling that she was more trying to feel us out for what we knew than actually interested in helping us. Well, we're new to this, so we don't really know anything. I basically wanted to know what type of loans they would offer for a business, and how to qualify. She asked me if we were interested in a commercial loan, or a business loan. I still don't know what the difference is, but I said a business loan. Trish said to qualify, we would need to send in the last two years' tax returns as well as a financial statement. She emailed me an excel form to fill out for the financial statement. The financial statement basically asks about your finances (imagine that). Like how much money you have in each account that you own. How much your house is worth and how much equity you have in it. The value of your vehicles. How much debt you have. etc. Surprisingly, Trish did not ask about a credit report, or what my credit score is. She said the terms of the loan would be:
-80% LTV - this means that they will loan us 80% of the value of the house.
-5.9% Fixed - Interest rate
-15 yr term - 15 years to pay off.
I think these terms are very doable.
So on March 23rd, Angela called our realtor, Gibo, and told him we were done with our homework. We had formed an LLC, opened a bank account, talked to a banker, and we are now ready to buy a rental property. Gibo told Angela that he would begin searching for us, and let us know when he found something.
Also, I set a goal of quitting my job on July 4th, 2021. That gives me 5 years to grow my empire to where my passive income will support my family and lifestyle. If I can get my net passive income to around $100k in five years, I will have succeeded. According to my simple calculations, that will take about 20-25 rental properties. So to achieve this in 5 years, I would need to purchase 4-5 properties a year. I do expect my plan to change along the way, but the end goal will not. I want to be free to spend time with my family, and pursue the many hobbies which I have. It's not that I don't like my "real" job, I just don't want to waste my life slaving away at work every day. This past weekend was Easter. We had lots of family over to celebrate, eat, and have fun for the kids. The thought kept crossing my mind, "man, I have to go to work tomorrow." By the end of the day, I was tired, the house was a mess, and there were broken cascarones all over the yard. If I didn't have to go to work, these kinds of things would not bother me, or stress me out. But since work consumes all of my time, I have to look at things differently. I will probably never clean up the cascarones from the yard. Just mow over them and eventually they will go away. I want to be able to say, I'll clean that up tomorrow. I'm not sure if this example explains how I feel. I just want a life that is not consumed by work.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
So, we received our LLC paperwork on March 10th, 2016. I also applied for and received our EIN tax number from the IRS. It is a very simple process. Just go to IRS.gov and the process is very simple. You will get your EIN immediately. Do not pay legalzoom or anybody else to obtain your EIN number. It is a very simple process.
On March 21st, Angela and I went to our local Prosperity Bank to open up a business checking account. We chose the account which is free as long as you keep $3500 minimum in your account. We had about $750 in cash from a garage sale that we had and from my side business facebook.com/yrlenterprises. We pulled the rest from out savings account.
We then asked to speak with a banker. The lady we talked to, we'll call her Trish, was somewhat helpful. I kind of got the feeling that she was more trying to feel us out for what we knew than actually interested in helping us. Well, we're new to this, so we don't really know anything. I basically wanted to know what type of loans they would offer for a business, and how to qualify. She asked me if we were interested in a commercial loan, or a business loan. I still don't know what the difference is, but I said a business loan. Trish said to qualify, we would need to send in the last two years' tax returns as well as a financial statement. She emailed me an excel form to fill out for the financial statement. The financial statement basically asks about your finances (imagine that). Like how much money you have in each account that you own. How much your house is worth and how much equity you have in it. The value of your vehicles. How much debt you have. etc. Surprisingly, Trish did not ask about a credit report, or what my credit score is. She said the terms of the loan would be:
-80% LTV - this means that they will loan us 80% of the value of the house.
-5.9% Fixed - Interest rate
-15 yr term - 15 years to pay off.
I think these terms are very doable.
So on March 23rd, Angela called our realtor, Gibo, and told him we were done with our homework. We had formed an LLC, opened a bank account, talked to a banker, and we are now ready to buy a rental property. Gibo told Angela that he would begin searching for us, and let us know when he found something.
Also, I set a goal of quitting my job on July 4th, 2021. That gives me 5 years to grow my empire to where my passive income will support my family and lifestyle. If I can get my net passive income to around $100k in five years, I will have succeeded. According to my simple calculations, that will take about 20-25 rental properties. So to achieve this in 5 years, I would need to purchase 4-5 properties a year. I do expect my plan to change along the way, but the end goal will not. I want to be free to spend time with my family, and pursue the many hobbies which I have. It's not that I don't like my "real" job, I just don't want to waste my life slaving away at work every day. This past weekend was Easter. We had lots of family over to celebrate, eat, and have fun for the kids. The thought kept crossing my mind, "man, I have to go to work tomorrow." By the end of the day, I was tired, the house was a mess, and there were broken cascarones all over the yard. If I didn't have to go to work, these kinds of things would not bother me, or stress me out. But since work consumes all of my time, I have to look at things differently. I will probably never clean up the cascarones from the yard. Just mow over them and eventually they will go away. I want to be able to say, I'll clean that up tomorrow. I'm not sure if this example explains how I feel. I just want a life that is not consumed by work.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
Tuesday, March 1, 2016
Quitting Your Job Using Rental Properties - Day 21
March 1, 2016 - Tuesday Day 21
Yesterday, we finally went ahead and started the LLC process. I used LegalZoom.com to start the process of forming an LLC. The name of our business was picked by Angela. It is JAMC33 Enterprises. The process to use Legal Zoom is very easy. There are 3 different plans that you can buy. I chose the cheapest one which was $149. The filing fee in Texas is $301 and the shipping for the paperwork and stuff was $9.95. I searched for a coupon code and found a $10 discount online. The other plans were more expensive, and offered things that I don't think I need at this time. Things like a company seal and binder, and 20 extra "membership certificates" which I don't need. They also offered to set up my EIN, but from my research, that process seems very simple. The more expensive plans did offer expedition, but I don't really need that either. The time frame for the plan I ordered is 30 days.
One thing you will need to do is find a "Registered Agent." This is an entity that will be served papers if you are sued. It does give you the option to use Legal Zoom as your registered agent, which I did, for a price of $159/year. That cost will be charged to your credit card once your LLC is officially formed.
As you go through the process of setting up your LLC on Legal Zoom, the questions asked are related to the following:
Yesterday, we finally went ahead and started the LLC process. I used LegalZoom.com to start the process of forming an LLC. The name of our business was picked by Angela. It is JAMC33 Enterprises. The process to use Legal Zoom is very easy. There are 3 different plans that you can buy. I chose the cheapest one which was $149. The filing fee in Texas is $301 and the shipping for the paperwork and stuff was $9.95. I searched for a coupon code and found a $10 discount online. The other plans were more expensive, and offered things that I don't think I need at this time. Things like a company seal and binder, and 20 extra "membership certificates" which I don't need. They also offered to set up my EIN, but from my research, that process seems very simple. The more expensive plans did offer expedition, but I don't really need that either. The time frame for the plan I ordered is 30 days.
One thing you will need to do is find a "Registered Agent." This is an entity that will be served papers if you are sued. It does give you the option to use Legal Zoom as your registered agent, which I did, for a price of $159/year. That cost will be charged to your credit card once your LLC is officially formed.
As you go through the process of setting up your LLC on Legal Zoom, the questions asked are related to the following:
- Which State your business will operate in
- The type of business you are opening
- Are licenses required
- Will you have employees within 12 months
- When will your fiscal year end
- Your Business address
- Your Business name
- Who are the owner and manager
- Do you want Legal Zoom to obtain your EIN (Tax ID #)
- Would you like a free tax consultation
- Will you operate a vehicle over 55,000 lbs
- Will your business involve a casino or gambling
- Will you sell Alcohol, tobacco, or firearms
- Are your goods subject to an excise tax
- What is your contact info for the IRS
- Legal advice
- Tax advice
- Business licensing package
- Forms
- Business checking account through Bank of America
- Business credit card
- Website domain name
Thursday, February 25, 2016
Quitting Your Job Using Rental Properties - Day 15
2/24/16 Wednesday - Day 15
So Gibo finally called Angela back yesterday while she was getting her nails done. She couldn't really talk, plus she doesn't know much about finances, so she couldn't really answer Gibo's questions. So she texted me his number to call him.
Gibo asked me some questions about where we were planning to buy and if we had already talked to a bank. He said he would send me his email address so that he could go over our preapproval letter. He also mentioned that you should never use any of your own money when buying a rental property. I'm not so sure that I understood what he was saying, but it sounded like this - he just through some numbers out there:
The last thing he mentioned was that the first thing we need to do to get started is form an LLC. So Angela and I have been working on figuring out how to do that, and thinking of some names. I like "La Tierra Dorada"; "El Dorado"; and "El Camino Real". Angela is coming up with some dumb names. The easiest way is to use Legal Zoom to form your LLC, but I think we can do it ourselves to save money. Angela has contacted some of her former colleagues from when she used to do legal work to see if anybody can help us out. So, we'll see where it goes.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
So Gibo finally called Angela back yesterday while she was getting her nails done. She couldn't really talk, plus she doesn't know much about finances, so she couldn't really answer Gibo's questions. So she texted me his number to call him.
Gibo asked me some questions about where we were planning to buy and if we had already talked to a bank. He said he would send me his email address so that he could go over our preapproval letter. He also mentioned that you should never use any of your own money when buying a rental property. I'm not so sure that I understood what he was saying, but it sounded like this - he just through some numbers out there:
- Buy a house that's worth $80k for $60k
- Put a down payment of $12k ($20k)
- Your mortgage balance is $48k.
- Immediately refinance the home for the $80k that it is worth.
- Pay off the $48k, leaving you with $32k cash
- Pay yourself back the $12k down payment.
- That leaves you with $20k for repairs/profit.
- Rent out the house.
The last thing he mentioned was that the first thing we need to do to get started is form an LLC. So Angela and I have been working on figuring out how to do that, and thinking of some names. I like "La Tierra Dorada"; "El Dorado"; and "El Camino Real". Angela is coming up with some dumb names. The easiest way is to use Legal Zoom to form your LLC, but I think we can do it ourselves to save money. Angela has contacted some of her former colleagues from when she used to do legal work to see if anybody can help us out. So, we'll see where it goes.
Please check out my website for my other side business/hobby. www.yrlenterprises.com and at facebook.com/yrlenterprises
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