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Updated almost 11 years ago,
How do I make RE investing a business and not a hobby?
Hello BPers...
My name is John Elmenhe, I'm 15 years old and I'm going to begin investing in real estate the day I hit 18 years old by trying to wholesale properties. I'm going to begin working soon and I'm NOT going to spend a DIME! It's all going into my savings account or a CD. RE investing is everything that I've wanted and more, so I'm not going to college.
I've been reading RE/business books and taking online courses in creative RE investing. One piece of advice that I keep on getting over and over again is that RE investing MUST be treated like a serious business, and not some hobby you partake in on a Saturday.
I feel like I should lease out an office space in a commercial building, so that I am physically removed from any sort of leisurely environment. Is this necessary? I mean I feel like my home isn't a really professional environment. Also, does anyone have advice on what necessarily constitutes a professional RE business?
Should I form a legal entity? Get an office with office supplies? Dress up in a formal way?
Your thoughts?