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!! cool smile

Comments(3)

  • BAMZ6th November, 2003

    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

  • sharpREI_PA6th November, 2003

    Thanks 4 the advice!! That is kinda what I was thinking too.

  • nebulousd6th November, 2003

    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.
    [addsig]

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