@Heather Skow it’s less a matter whether you should form a LLC, but understanding whether you can operate the LLC without having your veil easily pierced.

Should i form a LLC as a Real Estate Agent ? 

Hello form a U of I alum.

Pro-forma NOI: $49K (8% cap)Asking price: $600KI understand that the property is grossly mismanaged but is the asking price right?

@Hugo RamirezHi Hugo,Your first order of business should be to become literate in the language of finance and to understand how the metrics work.From there, build or acquire a pro forma to allow you to conduct in-depth underwriting analysis.Doing anything in real estate requires you to have these skills and tools.Feel free to contact me if you have any specific questions, and wishing you the best of luck.

Almost every investor has a PM and if you underwrite with pro forma numbers you can easily reach a 20-30% COC.

So race to get your first deal done so you can form a habit of it.Anyway I have to run, I'm working on a second mortgage for a 29 suiter I'm buying and I have to send documents to my mortgage broker.

Here is what we will need to get started: • Complete Executive Summary • Complete Business Plan • Proceeds Needed and A List of How Proceeds Will Be Used• Project Pro Forma We may seek to have an equity position if it is a good business model for us.

. $300 and 10 min to form a new one (I get 4-5 at a rome every few years).

Also dont look at pro forma that is Latin code for "maybe if we pray hard enough" ... the days of Latin are over ... if you make offers on apt bldgs at this stage in your knowledge you will LOSE BIG BUCKS.