Hi I'm Al from jersey looking to start my real estate business. Just want to know few answers to some questions I have:
1. Should I start a business first and have all my real estate dealings under that company?
2. Should I get a partner?
3. How can a get lending for a project without having to put no money down?
Investor · New York City, NY · Member since 2013 · 137 posts · 50 votes
11y
Hi Al!
Welcome to the site!
You already took a step in the right direction by coming to this site. I would join the advise of others in this post and say, second: Get educated. BP has a ton of material to help you achieve this step starting with the free beginners guide to RE.
Regarding your third question: I'd like to suggest to check Brandon Turner's book
The Book on Investing in Real Estate with No (and Low) Money Down
Bayonne, NJ · Member since 2013 · 90 posts · 27 votes
11y
3. How can a get lending for a project without having to put no money down?
This doesnt make sense.
Welcome to the board. I see youre in Newark, so am I -- start with much more specific questions than what you are asking. Get a strategy and a focus, and go from there. Much better served. Im an amateur in every sense when it comes to RE BUT:
1.An llc(or any entity) is good to have to start your business, but get business period before you worry about protecting assets.
Your first two questions depend on a lot of factors. There is a lot more to the answers that a quick post.
Today it is tough to buy with no maney down. It will not happen with traditional lenders. Even "Hard Money lenders" want you to put some money into the deal. That basically leaves you with 3 main options
A private lender: friend family or associate that is willing to lend to you because they know and trust you.
Investor · New York City, NY · Member since 2013 · 137 posts · 50 votes
11y
Hi Al!
Welcome to the site!
You already took a step in the right direction by coming to this site. I would join the advise of others in this post and say, second: Get educated. BP has a ton of material to help you achieve this step starting with the free beginners guide to RE.
Regarding your third question: I'd like to suggest to check Brandon Turner's book
The Book on Investing in Real Estate with No (and Low) Money Down
Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
11y
1. Have an idea but don't create a business entity until you have a deal to place under contract. You will want to tie it up under your llc or whatever entity you decide on.
2. Partners are good. But make sure you get with a partner whose bringing something you're not bringing to the table like money or experience.