The purpose of this article is to serve as a detailed checklist for getting ready, making and structuring your own real estate business. I will also point out the benefits of detailed plotting and management, and the pitfalls for failure to do so. First things first: what is the name of your new company? What type of business entity will you place up? A sole proprietorship is the quickest and simplest; but, it might lack the vital asset and liability protection warranted by your business model. My personal favorite has always been the Limited Liability Company (LLC). It’s quick, inexpensive, and provides party shelter.
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