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Updated over 2 years ago,
Beginner business setup question
I've been listening to a lot of BP Rookie podcasts and many folks on the interviews say they buy all their properties in their personal names (single- 4 plex types). Then some also say "I reinvest all my money back in the business". These seem contradictory to me - how would a business be formed around owning properties in your personal name? Is that legal, or wouldn't you need those assets owned by the business? How would such a business be structured and how would the accounting work, if funds are coming from personal accounts? I have my old home as a rental and am trying to figure out how to set up all the processes and systems in the most efficient mannner before I scale. Any advice would be greatly appreciated!