I am currently new to real estate investing and was wandering what entity to open up for my REI business and if I need to open it before or after my FIRST DEAL?

I have taken the time to do my due diligence, follow my criteria relentlessly, set up legal entities to help protect my personal assets, and assembled a team of trustworthy professionals.

They can be the ONLY signers on the bank account for the entity so that you have 0% control over their money, but have operating control over the deal along with your agreed upon profit splits.If you provide more details of what strategy you intend to use, why you are in a "hurry", and how many partners along with details of finances for each, I can better assist you.

Doesn't matter if you do this as a business entity or not, you can't earn income from a property you don't own (statement limited to this issue :) ).

How about just hold the property in a THT with your entity as trustee?

However, in the case of LLC or other entity ownership, a person truly does NOT own, they are simply managing on behalf of the company / entity; hence it would not be a lie to make a statement such as what J Scott has made.

Just make sure the name is available as a business entity name in your state.

The more one can show a legitimate business reason for multiple intertwined business entities, the better the chance those entities will provide the protection desired.

What type of entity is providing the loan?

Other than that, forming these entities is cut and dry, at least in my state.