All Forum Posts by: Erica Wilson

I know an LLC is not necessary to invest in rental properties, but I've decided this would be a better option for me in the long run. Is it easy to creat an LLC on your own, or would it be wiser to hire someone to assist me? If it's easy, I can certainly do it. But if I'm going to be set up better in the long run if I enlist help, I want to do that. I ultimately want an umbrella to keep my assets under and I'd rather set this up now from the start than have to do it later. What do you all think? I'm in Michigan and I'm not sure of the LLC creation process.

Hi Julian! I am a newbie as well and I have been researching investing for several years. I think the best thing is to figure out where you'd like to begin as far as investing techniques. I would like to get started in rentals and then further down the line, I would like to transition into flips. Since there are so many ways to start investing it can be extremely overwhelming, so this is where I would start first. 

As far as acquiring capital, I am getting my real estate license and using being a real estate agent to not only gain the knowledge that I need, but also begin raising capital while I work my day job. However, you do NOT need a license or have to go down this path. Finding a partner may be more beneficial for you in the end as opposed to how I am going about things. I hope some of the information I have provided is helpful. 

Thank you, I had assumed more of them were investor focused. I will be on the look out.

Hello,

I am new, I have been looking into building wealth through Real Estate for many years now. I am currently taking the class to get my real estate license, but eventually I want to invest in rental properties in the Detroit area (at least so far) and one day maybe migrate to flipping. I am really excited to get started and make new connections! 

I had a question for those of you in the Michigan area. I know I have plenty of time to find a brokerage but I wanted to know if anyone had recommendations? I am more concerned with finding a brokerage that will give me the proper training I need to feel ready in the field.