When you decide to form a real estate investment company, you should choose between a limited liability company or a partnership. Neither of these structures has any specific benefits, but they both have the advantage of limiting your personal liability to the money you contributed to the company and any personal assets you contributed as collateral. The next step is to determine which tax structure will work best for your business. There are a variety of advantages to each.
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In addition to protecting your personal assets, an LLC allows you to invest in multiple properties at once. As long as you have a budget and an investment objective, you should start looking for investment properties. Once you’ve found some suitable properties, you need to choose a lender and obtain a pre-approval letter, which will allow you to meet with agents and make offers. Once you’ve got a pre-approval letter, you’re ready to move forward with the process of buying and selling real estate.
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Once you have chosen a lender, the next step in the process is choosing how to structure your company. First, you should choose a structure that will allow you to manage your ownership. An S corporation allows you to transfer your shares to another person, whereas an LLC requires the owner to sign each share to keep the company separate from its other assets. A good series LLC allows you to keep multiple parcels under one entity.
The second step in forming a real estate investment company is to create a series of LLCs. These allow a single LLC to operate under several distinct pieces, each with its own assets and liabilities. The main advantage of a series LLC is that you can keep multiple parcels under one roof, and this makes it easier to maintain the business. JJB Investments, LLC, for instance, has three different series: a holding company, an LLC, and an operating company.
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The final step in structuring a real estate investment company is choosing a legal structure. There are many benefits to having a legal structure. A holding company protects your personal assets while a second one protects your business assets. It is easier to keep the records of a business than a sole proprietorship or partnership, and a company helps you distinguish your personal assets from the assets you acquire.
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A real estate investment company should have a real estate business plan. This is an important tool in establishing a successful real estate investment company. A well-written business plan is vital for several reasons. It validates your idea, keeps you on track, and makes your investment strategy more attractive to mortgage lenders. It also ensures that your business will be legally sound and be tax-compliant. Once you have set up a business plan, you can start looking for properties that match your criteria.
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