Starting Own Real Estate Investing Business/ Need Advice!
Hello, I am wanting to start REI, and I was pondering a few questions: Should I immediately incorporate myself and setup an office, say like in my home, before even deal one is done. OR, should I try to get some deals under my belt first and then grow from there. What is the best direction to take? Thanks everybody!!
Hi sharpREI_PA,
That is a good question. I would spend my time and efforts finding a few deals. It is so much easier for us to buy a nice computer, office desk, leather chair, phone system, etc, and then we give up because our phone isnt ringing. Well, there is a reason that it isn't ringing!
If I were you, I would spend my time working out of a shoebox, and focus my time and extra dollars on marketing, buying and selling.
Best of Success!
BAMZ
Thanks 4 the advice!! That is kinda what I was thinking too.
I would go the same route AND try to get some legal protection.
If you have the money I would talk to a CPA who understands REI and try to establish an entity to invest with. your other option is to understand land trust, do your first deal, and then get the entity.
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