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Updated over 8 years ago on . Most recent reply
Question from a newbie
Hey Everyone,
Quick question from a newbie. I am looking to start doing some real estate investment beginning in the new year. I'm using what's left of 2016 to get everything in order. Ideally I'm looking to start with a buy and hold a property or two and then also sprinkle in a fix and flip. Should I start the process of opening up an LLC or Corp? Can I purchasing FHA as an LLC or Corp? I have a w2 and earn a nice documents income.
Any advice is greatly appreciated!
Anyone on here from the Lehigh Valley area in Pa? Always looking to connect with new people.
Kris
Most Popular Reply
Rick H.
#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
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- Greater LA/Orange County area, CA
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Rick H.#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
- Lender
- Greater LA/Orange County area, CA
Go for simple: no entity.
The time to worry about getting sued us when you have something to lose. If your net worth is low (or even negative) then you've got little to protect.
Focus on the fundamentals now. So few do, then get all wrapped around their own axles trying to get started.
Learn what a deal looks like. Learn what a bargain looks like. Leaf. How to document it, research it, sell it to your prospective seller and close it.
Learn how to monetize opportunity every possible way and how to identify and manage risks as you get smarter.