73 replies to this topic

[MarvBear]

busted.

[futuremagnate]

I'm brand new at this blogging/boards thing...so I don't know if I am doing this right or not but I wanted to answer at least a piece of SeanMathes due diligence question. Pay to do a UCC search (UCC stands for Uniform Commercial Code). This will show you anything and everything involving the company. Taxes, judgments, liens, current lawsuits, etc.

Hope this helps a little

Sorry everyone...just realized the date of the question I answered...please be patient with me...I'm learning

I wish there was an expert on this topic that could come up with a step by step process? I read every single thread and am still left scratching my head a little bit?

I would like to go to the SOS and actually come up with a process to purchase and transfer an inactive corp. A few questions that weren't really addressed in any of the threads.

Do we actually have to contact the registered agents?
What kind of documentation is required to purchase these corps from the owners? Do we have to do this or do they forfeit these by letting them go inactive after a certain amount of time.

Due diligence
What specifically should we check ie: tax liens, encumbrances, etc.
What services or resources should we use to do these checks.

I am in Colorado and I understand there will be some variability state to state but I would love to hammer out a specific cookie cutter process that everyone interested can implement.

SMM

Edited by futuremagnate, 30 May 2008 - 08:27 PM.

[beachgrlcher]

Hello All,

I joined in March, and have spent the last couple of months reading everything I can on this website, and then researching that information.
From everything I read, it looks like going with an aged shelf corp is probably the best way to go, but I am unsure of how to go forward with this and could use some help. If the answer is to get a broker, how do I go about finding one? I contacted the company that Dr. Torres recommended (Assured) and was not impressed. They would not give me any info on the corp other than the price and what kind of business it had been. I was told that I could not have the name until I paid them, so I was unable to do any research. Obviously, I did not go through with the sale with them, but am still interested in the idea of the shelf corp.

I am trying to start a home based business after being in the aviation industry for many years and having my last two airlines go under. I have a small amount of start up capital, and think I can pull this off if I educate myself and don't make too many mistakes.

Any help you can give a newbie would be much appreciated!

[helcat]

From everything I read, it looks like going with an aged shelf corp is probably the best way to go, but I am unsure of how to go forward with this and could use some help.

Please accept my question is simply a sincere one. But I am truly confused as to how you and several others as of late have come to the conclusion that a shelf corp "is the best way to go" ? Wouldn't you have to have some clarity about how to proceed next to even come to that conclusion?!?

[orangecrush]

Please accept my question is simply a sincere one. But I am truly confused as to how you and several others as of late have come to the conclusion that a shelf corp "is the best way to go" ? Wouldn't you have to have some clarity about how to proceed next to even come to that conclusion?!?

[beachgrlcher]

Ok, so maybe I'm stupid but from everything I have read, it takes a very long time to build up any kind of real business credit. Many of the lenders will not even consider the app unless you have been in business for 2 years. By the time you have spent all of the $$ to incorporate, etc. it seems like it does not cost much more to buy an aged corp and be that much ahead of the game.

I'm trying to research this issue before I do anything. If you think this is not the way to go, that's fine - tell me why. I came to this concusion because of what I've read on this site.

[AUTOMARTONLINE]

i need advice to help me decide what to do next.Have 2 shelf corps,1st is 22 years old from MO and have exp file over 10 years and nothing show in it and 2 TL in DNB........second corp is from NV where i live and i dont know how to find the EIM number/have a DNB number and no score/........i am afraid if i register the MO corp in state NV i may loose the age and this is no good....help

[ebegovic]

Hello all,

I have recently joined the website and I am very interessted in getting an aged corporation but I am having difficult time finding the wright broker/ company that could provide me with that information.
Can someone please help me point me in the wright direction were to look for a company that can help me get the aged corporation in NV with already establshed credit or even LOC attached with the new aged corporation.?? If that is even an option? Or is it better to purchase an aged corporation separately and than build credit or pay someone to build trade lines and your credit so you could applay for some funding.? Please advise..

Thank you.........

[bev32atm]

DON'T USE ASSURED SHEFL COMPANIES!!! If you need info just let me know I will be happy to share

[captainmorgan1]

If you by an aged corp, are you responsible for old debts acquired in the biz name. Let’s say, a company had a charge card or signed a lease in the biz name never paid and walked away from the lender and corp they started. Now 5 yrs later you buy that corp. Can the old creditors come after the "new president/owner" of the company?

[johnjohn1234]

DON'T USE ASSURED SHEFL COMPANIES!!! If you need info just let me know I will be happy to share

Is there a reputable place to buy a shelf corp?

[saj6347]

From what I've read, when you buy a shelf-corp you are basically doing a stock transfer and acquiring the corp docs, assets, and liabilities. so there is a lot of research that you need to before you buy. I read a document the other day that even suggests you contact the BOD and officers of the corp before buying. could be hidden problems there.

[duecredit]

From what I've read, when you buy a shelf-corp you are basically doing a stock transfer and acquiring the corp docs, assets, and liabilities. so there is a lot of research that you need to before you buy. I read a document the other day that even suggests you contact the BOD and officers of the corp before buying. could be hidden problems there.

My personal credit is horrible. I'm working on getting it in order. I would like to buy a 3 year old+ nevada shelf company so that after a 3-6months with early net30 payments I might be able to get a no pg loan for inventory. I just need to know about real companies selling clean shelf corps that don't charge an arm and a leg. Are there any charging no more than $200 a year to $500 a year? If so, can any long time members of creditboard suggest some (I'm not interested in newbie suggestions) ?

[Jason Berkes]

Remember you get what you pay for. I would run from a shelf corp for 200 or 500 per year.

[angelwings4u]

does anyone have a stock transfer agreement that they can share?

[ChineseDemocracy]

I went to the Nevada SOS website. I saw plenty of LL's and Coporations that are revoked or in default. Can it be possible to just pay the fee and submit the paperwork and pay the fees to the State of Nevada without contacting the previous owners of the revoked corporation?

[LuisD]

LOL at the guy posting after himself

Edited by LuisD, 23 February 2009 - 05:44 AM.

[atrskateboards]

does anyone have a stock transfer agreement that they can share?

I'm sure if you ever got the document for a "transfer of stock agreement" but Business-in-a-box has a lot of Word Templates including the document you need.

[idfly]

Ha! Classic!!!!!

That was too funny!

[eudamonia]

Thanks for the information. I'm still a little fuzzy on the benefits of a shelf corp. Are there any threads talking about that?

[CBMadness]

Hey, I have a bit of an awkward situation. I want to buy this aged corp from a client who used to be in the same business that I'm trying to start. The issue is I already know the company name so i cant pretend that I don't know its his company. It has a DNB and Experian w/ no trades but it is significantly aged.

My question is how do I propose the option of assuming control of the corporate name to benefit from its age without giving away too much information as to why I want it?

Any help from the pros?

[banditone]

What do you put on a credit app where it ask how long you have had current ownership? What does the existing LOC and accounts do when they see you are now in charge?

[ThinknIsntKnowin]

I want to buy a company that has been disolved for 8 years, I have searched for the registered agent but havenot been able to locate him. Is there anything I can do to obtain this company?

[Tommy The Cat]

What do you put on a credit app where it ask how long you have had current ownership? What does the existing LOC and accounts do when they see you are now in charge?

Maybe this will assist you.

Truth AND Consequences

[AIMANZUL]

Hello:

I would like to revive this Shelf corp thread...all the messages are really old .
So what do i do !
Anyone interested.
I feel that this is the perfect time to establish credit, shelf corps etc etc.
Good times are around the corner and the ones among us that will be ready will be truly blessed.
Lets get ready everyone....


Thank you.
Aimanzul