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Updated about 8 years ago on .
Advice from REI's Please and Thank You!
I am 19 turning 20 this year and I plan on buying my first real estate property this year. I have been studying, window shopping for deals, doing "mock financials", and networking at events for approximately 7 months now. With countless hours staying up at night revising my business model, I know my course of action but I don't have all the answers and have a few questions that I would love to be answered if possible.
1. When it comes to growth how often do you recommend expanding your portfolio? My goal is quarterly or every 4 months.
2. Is business credit best used for repair expenses or asset acquisition?
3. When it comes to income statements, should one hire an accountant or is that something hired property management does?
4. When it comes time to acquire another asset during financing do you use the business income and bank account to qualify or your own personal and if personal, do you constantly transfer a set amount from the businesses monthly income after debts are paid?
All answers are appreciated as well as suggestions! Thank you in advance!