Beginner business setup question
I've been listening to a lot of BP Rookie podcasts and many folks on the interviews say they buy all their properties in their personal names (single- 4 plex types). Then some also say "I reinvest all my money back in the business". These seem contradictory to me - how would a business be formed around owning properties in your personal name? Is that legal, or wouldn't you need those assets owned by the business? How would such a business be structured and how would the accounting work, if funds are coming from personal accounts? I have my old home as a rental and am trying to figure out how to set up all the processes and systems in the most efficient mannner before I scale. Any advice would be greatly appreciated!
Most Popular Reply
Don’t go blow it on fancy cars and expensive TV’s etc.
First several years the $ made in real estate should be reinvested into cash producing asset whether be real estate, stocks or other alternative investments is what they are saying
- Chris Seveney
