[ItzaMe]

Originally Posted by Eric 951

As Fred and others have advised, get the legalities of the business in order now. Decide how you are structuring(partnership, LLC, S Corp, etc) and get it done. Get the business filing with your sec of state, get your operating agreement, speak to your accountant to make certain you have all of the bases covered. The operating agreement you will be working under is key to protect everyone and all contingencies. Make certain you and your partner(s) understand it isn't personal, it is business, because everything may be going great until it isn't.
Make certain you are willing to commit--running your own business isn't easy--there isn't anyone to pass the buck to, and you must be accessible. It can be stressful because it is your responsibility to make sure everything is right. When you are working for someone else, you can leave some of that stress and responsibility at the office when you leave--when it is your business, you carry that with you 24/7.

Thank you for the advice. It is my top priority to get this situated in the near future before making any big moves.

Originally Posted by fastfredracing

I was going to comment on that bottom feeder comment also. You gotta start somewhere. In the flipping world, as long as you can buy something, and add more value to it and sell it at a profit, you are doing good .
I've probably flipped over a hundred cars in my life . I have only lost money on one . Sometimes, I cash out, and start over with a 2500.00 project, and work my way back up . I enjoy the cheap ones as much, or maybe more than the high dollar ones.
Also , don't take everybody's advice at face value.

Well put! 100 cars? Not bad!! I'm almost there :P