Hey everyone, I am getting started in the industry with the goal to fix and flip in Kansas City. I have tons of questions on the business side as I startup. If anyone can provide answers to any of these it would be helpful.
1. What do you find is the best money backing in the area. My plan is to do a standard bank loan for my first flip before getting into hard money. Are certain banks more inclined to loan in real estate than others in the area?
2. What kind of insurance did everyone have to start up? In construction there are so many options.
3. I have a few legal attorneys on my list to look into. How soon did you connect with an attorney?
4. Business type? LLC, sole proprietor, etc. Has one type proved best for this industry than others? Did you set this up yourself or did you have an attorney do the work for you?
I am sure these questions will open up even more cans of worms but let’s start here.
