Starting out in Ohio and Several Business Start Up Questions

[Jeremy Shechter]

I am so excited that after a year and a half of reading, analyzing properties and setting my mindset I am finally jumping in to REI!

I have been birddogging to start getting leads coming in and am a little bit worried about the logistics of making sure the proper framework is created to handle a deal when I get it.

A lot of it is confusion on how the LLC setup process goes, if I need an LLC to get started, etc..

1. I do not currently have an LLC set up. Is it OK if I purchase the first property under my own name, then transfer to an LLC I create in the future? Or should I just wait until the LLC is set up to move forward with anything?

2. Is it necessary to create a new business bank account and credit card?

3. Is quickbooks what most people use to set all of the bookkeeping straight?

I may not be asking the right questions at the end of the day. What tips or processes could you offer someone SUPER green to get started right away without making a lethal mistake?

Thanks BP fam!