Funding Residential RE Agent Business
Good morning Bigger pockets.
My current goal is to grow my Residential Real Estate Sales team in Las Vegas to hit 100 million in sales by end of 2020. An option I have to help do that a little quicker is offering my mom, who will have a tough time retiring without it, a return on her money for investing into my business. I could probably get the money cheaper elsewhere, but I want to take care of her.
This would be my first time taking any funds to grow this part of my business. What are the proper steps I need to take and who do I need to contact?
My thoughts:
1. I am concerned about tax benefits for her and myself being optimized.
2. I want to make sure the accounts and any money drawn from those funds is done properly.
3. I do not know a lawyer that specializes in any of this type of business. What type of lawyer might be ideal to connect with?
4. What am I missing? Concerns? Things I should watch out for?
Thanks anybody in advance.
