Cliff Joyner

[Eric.]

First of all if you form an LLC it can not be a INC. A incorporated company is a corporation not a LLC. You can have a LLC that is TAXED as a corporation or a partnership though.

As far as set up for an "IPO" of Cliff Joyner you have to think about if shares are sold to another individual and so on. This changes the whole structure of the members of the LLC in the first place.

I own close to 10 million in real estate so proper structuring of any entity is a must....

Brian

OK, since we are splitting hairs, you're right in that an entity has to be either an LLC or Inc (corporation) although you can call an LLC "Joyner, Inc". "Joyner, Inc" is just a title, not a cororate designation. I used "Joyner, Inc" just as a quick, off-the-top-o-me-head name.

In reality, it's not an "IPO" (does anyone use eufemisms anymore?!). I mentioned "IPO" as an analogy.

Just go with it, will ya? It's really not that complicated, if you have a little know-how.


Eric

 

[vgodley1]

"Joyner Inc, LCC"

As long as any libility issues are addressed I am in for a few shares!!!

 

[lil brian]

Llc

Actually quite a few states will not let you use the words INC in a LLC!!!!

 

[1 pocket mike]

looks like years of burning bridges has lead cliff to swim across to meet up with the IPT players.

 

[Eric.]

Actually quite a few states will not let you use the words INC in a LLC!!!!

Fine. You are right. I am wrong. Can we move on?


Eric

 

[lil brian]

Planning

When starting a business or gambling match proper planning must be involved. A lot of gambling in pool involves planning and negotiation. This is the same in business. If you think education is expensive try being ignorant and see how expensive that is.

It is like not knowing how to two or three rail bank or kick in one pocket and then seeing your opponent do this to you and go 8 and out!!!! In life the people who plan and execute the best generally win.

Most pool players that have their entire livelyhood dependant on the game are broke or close to it. (Hopefully the IPT will change this.)

If it were my money on the line I would put it with someone who had a well thought out plan, could execute well, and coordinate the efforts.

 

[Eric.]

When starting a business or gambling match proper planning must be involved. A lot of gambling in pool involves planning and negotiation. This is the same in business. If you think education is expensive try being ignorant and see how expensive that is.

It is like not knowing how to two or three rail bank or kick in one pocket and then seeing your opponent do this to you and go 8 and out!!!! In life the people who plan and execute the best generally win.

Most pool players that have their entire livelyhood dependant on the game are broke or close to it. (Hopefully the IPT will change this.)

If it were my money on the line I would put it with someone who had a well thought out plan, could execute well, and coordinate the efforts.

Lil Brian,

I don't think anyone is too interested in being lectured. Maybe you learned this stuff last semester(you strike me as a college student).

I'm not interested in a hair splitting contest on business law/practices. The topic is helping another poolplayer get ahead. Can I count you in for a donation?


Eric

 

[lil brian]

Lil Brian,

I don't think anyone is too interested in being lectured. Maybe you learned this stuff last semester(you strike me as a college student).

I'm not interested in a hair splitting contest on business law/practices. The topic is helping another poolplayer get ahead. Can I count you in for a donation?


Eric

Thats hardly the case. I am a business man that has quite a bit of experience. I think it is great you are trying to get something started but proper planning by someone who obviously does not have all of his FACTS together is a train wreck waiting to happen. As far as the college student yes I did graduate from a top ten business school 12 years ago. Business wise I have accumulated a 10 million dollar real estate portfolio with a couple of friends over the last 4 years. Putting together a business venture whether big or small requires someone who can put all the resources together to make something work. I think your intentions are correct but you need better advisors or better knowledge to put this deal together.

Just as a quick question since you know what you are doing. Do you plan on have the proceeds flow through to each individual or the corporation or the LLC??? How do you handle the expenses??? Do you know how to get the maximum write offs per corporate entity???

What if a member plans on selling his share?? How does he get out??? exit strategy is just as important as getting into a business.

If you think I am just a college student bluffing just ask Diane.(she started the thread) She know who I am and will tell you I am not bluffing.

Brian

 

[pokerhammer]

Thats hardly the case. I am a business man that has quite a bit of experience. I think it is great you are trying to get something started but proper planning by someone who obviously does not have all of his FACTS together is a train wreck waiting to happen. As far as the college student yes I did graduate from a top ten business school 12 years ago. Business wise I have accumulated a 10 million dollar real estate portfolio with a couple of friends over the last 4 years. Putting together a business venture whether big or small requires someone who can put all the resources together to make something work. I think your intentions are correct but you need better advisors or better knowledge to put this deal together.

Just as a quick question since you know what you are doing. Do you plan on have the proceeds flow through to each individual or the corporation or the LLC??? How do you handle the expenses??? Do you know how to get the maximum write offs per corporate entity???

What if a member plans on selling his share?? How does he get out??? exit strategy is just as important as getting into a business.

If you think I am just a college student bluffing just ask Diane.(she started the thread) She know who I am and will tell you I am not bluffing.

Brian

I call your bluff, I flopped the nut straight.

 

[Gunn_Slinger]

So did Cliff get a sponsor?

 

[Diane]

As a matter of fact, Cliff now has a couple of options! He and Jay Helfert are friends and Jay had made a nice offer to help; I think that's the route he will take. There are also some "industry" people who want to meet him and talk about a possible long-term plan.
Anyway, I didn't want everyone to argue over this, but you guys came up with some wonderful ideas and I learned a lot! I do appreciate all of the input and I know Cliff will get a kick out of reading some of this.
I want to wish him and all of the players the best of luck and want to thank the IPT for pools' new life...

THANKS AGAIN EVERYONE!

 

[Eric.]

Don't know why I'm still in this pissing match but...

Thats hardly the case. I am a business man that has quite a bit of experience. I think it is great you are trying to get something started but proper planning by someone who obviously does not have all of his FACTS together is a train wreck waiting to happen. As far as the college student yes I did graduate from a top ten business school 12 years ago. Business wise I have accumulated a 10 million dollar real estate portfolio with a couple of friends over the last 4 years. Putting together a business venture whether big or small requires someone who can put all the resources together to make something work. I think your intentions are correct but you need better advisors or better knowledge to put this deal together.

I still think you're full of hoohaa. Most of the people I know with substantial assets don't need to brag, especially when your "10 mm real estate holdings" has NOTHING to do with this topic. BTW, you naively underestimated my experience in this area. It's what I do for a living. I work on Wall Street.

Just as a quick question since you know what you are doing. Do you plan on have the proceeds flow through to each individual or the corporation or the LLC??? How do you handle the expenses??? Do you know how to get the maximum write offs per corporate entity???

After reading Diane's response about Cliff, it's now a moot point. For the sake of argument, you are making a simple thing too complicated (inexperience?). The balance sheet is very simple. Ther is no overhead, complicated expenses, etc. Most times, less is more. K I S S.

What if a member plans on selling his share?? How does he get out??? exit strategy is just as important as getting into a business.

That would be in the corporate charter. Most likely, selling shares would be by quorum vote or restricted to "no selling", you just get the pass thru proceeds until the limited partnership/LLC/whatever dissolves.

If you think I am just a college student bluffing just ask Diane.(she started the thread) She know who I am and will tell you I am not bluffing.

I still have my doubts.

Brian

Apparently, this issue is done. I'm getting bored, as well. Best of luck to Cliff, I hope he goes and gets whatever he can.


Eric