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Random questions
Hi. I have a few questions that are scattered among topics. Any guidance would be great. As I'm sure is obvious, I'm a newbie and trying to find direction on how to start and make my head stop spinning.
1-I have read books describe single member LLC's as a bad idea b/c courts don't recognize them. Any guidance. Does it matter single member vs multi-member?
2-How do I collect money from my LLC? Does it distribute money to the owners at certain periods?
3-If a 2 member LLC makes more sense, could I create one where my SDIRA is one member and I am the other member?
4-I've read books on several different strategies. Should I focus on one strategy or is it ok to diversify? My concern is if I focus on wholesaling for example, that will limit the deals I can do. Maybe I can send the deal to an investor specializing in that strategy for a fee.
5-If I am a wholesaler, how should I begin? Should I develop my team, then build my buyer's list a bit before hunting deals?
I plan on beginning to meet at my local REIA. I'm hoping to maybe find a mentor I can shadow or work for. I think that's all I can think of. Everyone on here is great. This is he he's forum anywhere.