Establishing a step by step plan

[Ricky Young]

Hello BiggerPockets community, I’m a relatively new member to this forum and REI. BiggerPockets seems like a fantastic source of knowledge and tools for my future investments. Just wanted to try and establish a step-by-step plan for myself going forward and figured what better people to ask! First off I was wondering if I should/could form a LLC before actually purchasing my first investment property. The reason I ask is I’ve read the benefits of establishing a business checking account for the sole purpose of real estate investments. Next applies to the same question, but if working with a partner. If I had a partner in mind can we form under the same LLC and business account checking account? Also, I’ve heard of some great tax softwares such as quickbooks. I’m planning on using excel for the first few properties, but was wondering based of experience what you guys think is the best software. Thanks in advance for any answers. I just want to build the most solid foundation as possible and try to start out on the right foot.