Legal entity and business bank

[Christopher Brown]

Hello BiggerPockets! So I’m ready to get out there, the only thing I have left to do is figure out what legal entity to choose and what bank to start my business account with.

My short term goals are to source enough deals to either wholesale or sale for retail with a realtor who will split with me. After I’ve gained enough capitol I’ll start BRRRRing and flipping some of the deals myself. Any advice would be much appreciated. Thank you :)

[Tyler Bains]

As a RE agent I would highly recommend you interview multiple agents KNOWN for working with investors. Not every agent understands investment real estate and they can lead you far astray.

Know your numbers and dive into the forums and info on BP.

Meet with a RE attorney to determine structure and get advice on the best place to start with your financial capability.

Get a GREAT CPA to ensure your tax liabilities are minimized to the greatest degree.

Find an INVESTMENT banker in your area and establish a solid relationship so when you find a deal they are willing to help you out. This might be the most important part.