Can anyone point me in the right direction to start a REIT currently I am in the process of starting a LLC and evenually would like it to grow to a REIT. Thanks for any help or advice
Thanks for the information and the link to the website. I see the company is a LLC though ? Is this type of company a REIT or just or a Real estate investment corporation. I am not sure of which one I would like to starte. Also thanks for your help in me deciding my real estate career.
I am not sure if I would be I am just really gathering information about the proper steps to take so my business can eventually become a REIT. Do you have any suggestions ?
You need a minimum of 100 investors to qualify as a REIT. Given the likely legal costs of formation and administration, not less than $10,000,000 in capital. There will be substantial ongoing tax compliance costs. Are you sure a REIT is what you need? REITS are sexy, but LLCs are easier and less expensive to form and run.
Thanks for the information and the link to the website. I see the company is a LLC though ? Is this type of company a REIT or just or a Real estate investment corporation. I am not sure of which one I would like to starte. Also thanks for your help in me deciding my real estate career.
Are you intersted in private lending as part of your reit?
I am not sure if I would be I am just really gathering information about the proper steps to take so my business can eventually become a REIT. Do you have any suggestions ?
You need a minimum of 100 investors to qualify as a REIT. Given the likely legal costs of formation and administration, not less than $10,000,000 in capital. There will be substantial ongoing tax compliance costs. Are you sure a REIT is what you need? REITS are sexy, but LLCs are easier and less expensive to form and run.
I am in the same boat as ddavery, I have a LLC not quite sure how to set it up so it can pay out on the shares of the property it acquires.
If some one could help me with this it would be greatly appreciated
This should help:
http://www.investinreits.com/learn/formingareit.cfm#1
Best regards,
Tim