OfflineGreetings to Everyone,
Unsure where to start out when building a team for investment.
1) Inc. or LLC which is better and why?
2) How to start your Inc. or LLC
3) Key components or people need for your team
4) What kinds of properties are best for holding long term
5) How to find honest and trustworthy tenants
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Chris
you have really good questions, I am not sure exactly where but every answer you need is here on this forum and in Dean's books. So I wish you great success with your journey.
I will tell you this much, we started with a LLC, it is important to protect your personal assets for you business. You can find out how to start on the net, it only cost $100 in OKC not sure about other states.
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman
www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
im still new to REI but I do know that and LLC will protect your assets but you still have to pay high self employment taxes. Setting up a corp. will allow you to write off certain things as a business expense (cell phone bill, travel expense, ect.) and also get rid of the 15% self emp. tax (its not as high). Those are just a few main differences that would relate to REI. hope it helps..
-TJR
To get allot of your answers just click the link below that should help you out better to get started;
http://www.deangraziosi.com/real-estate-forums/misc-news/33983/attn-new-...
Everyone Can Make A Difference!
John A.