Updated over 2 years ago on . Most recent reply
New to RE investing and looking for advice on a RE license, financing, LLC and more!
Hey BP community!
While I'm new to BP and RE investing I have some experience in this space from college, family, and currently working in insurance. That being said, I'm looking to get started, but could use some guidance. To get started I've been thinking through the following questions, but curious what those more knowledgeable than I am thinking and have successfully tried.
1.) With no intention to quit my current job should I get my realtors license for what's essentially my own benefit (i.e. to save on commissions, access to the MLS, etc.)?
2.) I'd prefer to borrow rather than use cash for purchasing, and have a decent amount of equity in my home. Should I look into a HELOC before I begin looking for my first property so I have immediate access to capital, or try something else, such as connect with a mortgage broker, etc.?
3.) With the intent to scale, should I open an LLC before acquiring my first property? Note: I'm not entirely clear on how this may or may not impact the financing piece above.
4.) Knowing the potential upfront costs, is there anything else I should be thinking about doing / having in place upfront that would be beneficial from a tax perspective?
Appreciate the help in advance, and looking forward to soaking in everything I can!