Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Setting up my business with a Rich Dad friendly structure
Hi Bigger Pockets Community!
I recently decided that I am going to get into real estate investing and I've been devouring the podcast episodes, I read Rich Dad, Cashflow, and I'm currently reading Brandon's book on investing in real estate with no and low money down.
I have a couple of recurring questions that I haven't found the answers to and I'm hoping that somebody can answer them here, or point me to a resource or place where it has already been discussed.
1) Rich Dad and Cash Flow talk over and over about running things through a business you create. As Rich Dad is short on Specifics, where can I go to get the specifics? What type of professional do I need to help me set this up, would it be a CPA? And how do you find a professional or CPA that has the Rich Dad mindset and who understands what Kiyosaki teaches?
2) Do you actually buy deals through a company you create or buy them as an individual?
3) My brother and I are going to go in on deals together - he has cash, and I have good income. What kind of entity should we form? Also, what kind of agreement is typical in situations where one investor puts up cash and the other does more legwork in finding the deal, or as in my case, provides W-2 income to show the banks?
Thanks everyone, I know that these are a lot of questions and I'm sure they've been discussed before, I just haven't heard this touched on in detail anywhere. Thanks!