What is the name of your state (only U.S. law)? IL
I had an idea to sell shares of an LLC or Corp to purchase, renovate and sell foreclosed properties. I would sell 500 shares at $250 per share for total capital of $125,000 and go to the Sheriff's sale with cash.
Basically I would like to set it up that each company is limited to a set amount of shares. When the property sells, all cash would be disbursed to shareholders and company would be liquidated.
My question is: What type of SEC hoops would I have to jump through in order to make this happen? Would I even need to go through SEC or is there any other type of sale vehicle I can use?
Thanks Much!!!!
I had an idea to sell shares of an LLC or Corp to purchase, renovate and sell foreclosed properties. I would sell 500 shares at $250 per share for total capital of $125,000 and go to the Sheriff's sale with cash.
Basically I would like to set it up that each company is limited to a set amount of shares. When the property sells, all cash would be disbursed to shareholders and company would be liquidated.
My question is: What type of SEC hoops would I have to jump through in order to make this happen? Would I even need to go through SEC or is there any other type of sale vehicle I can use?
Thanks Much!!!!