Time line for starting a buisness and forming a team.

[Gregory Groff]

It is my goal this year Lord willing to buy at least one retal property. Im hoping for a small Multi-family home like a dueplex or a fourplex. My questions would be: at what point do you want to have your team in place ( broker, attorney, CPA, Title Rep Ext..) Do you just figure that out as you go along? And at what point is it a good idea to create a buisness? I would apreciate any feedback or advice! 

Thanks for you time,

Greg

[Ned Carey]

@Gregory Groff 

Before you need them.

Generally yes. You should always be networking, looking for team members,money and deals. Even when you have found them you keep looking because you can't count on anything to be there when you need it 100% of the time.

A business is created the moment you decide to be in business. When you start doing business with the intent of gaining a profit (as opposed to a hobby) you have created a business. You can run a "Business" as a "sole Proprietor" I suspect what you mean is "when do I create a separate entity, like a corporation, for my business?" 

Whether you run your business as a sole proprietor or create a separate entity, and what entity should you use is a complex question. It has both legal and tax implications.  It depends on your financial profile, You risk tolerance, and the risk profile of the business you choose.

There is a LOT of information here on the subject as it has been asked lots of times. Do  search here and keep reading and ask question about what you don't understand.