Time to Launch Your REI Dream

Just this month the Associated Press reported on the latest Census Bureau findings that fewer Americans are starting their own companies which are leading to worry among Goldman Sachs and other economists.

Because small businesses are the backbone of America’s economy and real estate construction is also lagging, now is the perfect time for real estate investors to start up. This might seem counterintuitive but in actuality, the investors who smartly enter the game the right way will be poised for the biggest rewards. This is also true for investors and even entrepreneurs already in business but who are operating as sole proprietors who haven’t taken the leap yet.

Why do Real Estate Investors & Entrepreneurs Need to Form an LLC?

Thousands of new businesses are formed every single day, and they come in all shapes and sizes. Because of the gig-buck economy & our modern electronic age, there are new business entrepreneurs that should be thinking about business creation but aren’t because they lack the education and information on why incorporating is needed.

Blogs, podcasts, MLMs, online stores, online marketing, and consulting businesses of all types are operating like the Wild West. While this has allowed millions of people to start their freelance businesses and work remotely, it’s also diluted the workforce and made it harder for the best contractors to compete.

Why Forming an LLC Helps “The Little Guy”

While it does cost some money to form and maintain an LLC business structure, considering the benefits to the cost is minimal. Forming an LLC may be the best decision a small or new business owner can make, and there are plenty of reasons why — including legal protections, tax savings, flexibility, and a simple structure.

Do all real estate investors and entrepreneurs need this type of structure? Not all, but most.

If a real estate investor has a business or is about to start one, and they own anything — whether it be a basement full of inventory, their home, or even a vehicle — a real estate investor needs the protection forming an LLC provides.

Now is the time to launch your REI dream, and taking the right steps to do it means it will grow in the long run. With fewer Americans creating new businesses, the opportunity to do what you’ve always wanted to do is right in front of you. Be smart and research the type of business that you want to start running. Think about what will make you the most profit with limited risks and money.

In the end, the only person that knows your dream is you, and by you taking the steps to not only protect your new business but also yourself is a step in the right direction. Get ahead of the curve and start investing now.