Your Questions About Investing In Real Estate

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Mark asks…

Anyone knows where i can get a good real estate investing website?

Hey guys, I’m new in the real estate investing business buying and selling houses. I’m looking for a good website for my business.

Are there any seasoned real estate investors here that can point me to a good real estate investing website? Basically I’m looking for something simple with all the features I’d need when buying or selling houses.

financi4 answers:

You can get a good website from http://realestateinvestorswebsites.net

William asks…

How might you protect yourself from loss when investing in real estate?

How might you protect yourself from loss when investing in real estate?

financi4 answers:

Buy low.

Sell high.

David asks…

What is the best way to protect your assets in residential real estate investing?

I am considering real estate investing and need to know the best way to protect myself. i.e., land trust, LLC, ???

financi4 answers:

Yes, incorporating may be helpful as per the rule in Foss v. Harbottle http://en.wikipedia.org/wiki/Foss_v_Harbottle BUT there are a variety of remedies available to prevent what might be considered a fraudulent conveyance. The person to speak to here is an accountant, who can tell you based on the amt and purpose of your investment how to set up the transaction to get maximum bang for your buck. S/he’ll no doubt recommend atty as required. The good news: accts are nicer than attys, far cheaper and frequently hugely more useful when it comes to financial information.

Steven asks…

What do I need to know to start my own business in Real Estate Investing?

In a year or two my husband and I want to start our own business in Real Estate Investing. We are currently closing on a house that we are going to rent out. When we start getting more into it, such as with the renovations and everything, should we have our own name and make ourselves a company or should we not even be company and just buy houses and sell it or rent it out? If we do start a company how do I go about in doing that? I’m clueless right now. thanx alot!

financi4 answers:

You should always run your Real Estate Business as an entity of some sort; ie. (Corporation, Limited Liability Company, Limited Partnership, or Combination such as a Limited Partnership with your Corporation as a Limited Partner.)
Join some local real estate investment groups a.s.a.p.
Also visit and join some real estate investment sites such as www.creonline.com Sign up for R.E.I. Newsletters.
For help deciding which type of entity, and setting it up you could visit with an attourney that is familiar with real estate investment; or you could visit irs.gov and go to the business links for starting a new business.
NEVER EVER run a business under your soc. Sec. Number.
ALWAYS run a business with an E.I.N. Employer Identification Number

James asks…

How do I get into Real Estate Investing within a major company?

So I can go on about my life, but I want this answer.. i’ll just get right to it. I am a newly licensed real estate salesperson. But my goal isn’t really in this state, or being an agent for more than three years… and it’s not about the market, Im just a little anxious. So listen, I got the license because i want to get into investing, I want to flip houses and then be able to sell them myself, access to the market, etc. I already have partners in mind, whom after a few words are very interested in joining me. I know a ton of people in the construction business, landscaping, you name it. What I am having difficulty in, is finding a company where I can be an investor or even an assistant to learn the ropes. Is it true a license is not going to cut it, and I need to go to school for some crazy business degree or something.
Can anyone help me with this, I’m mostly looking for advice, no links to investing on my own, I have zero dollars and I want to invest WITH money.

financi4 answers:

I’m a little confused also by your description of your situation and what you’re trying to accomplish but I’ll give it shot. First, you do not need a degree of any kind to be a real estate investor. You do not even need a real estate license. You do however need to be very knowledgeable about a whole range of things from market conditions to financing–both conventional and creative. And, if you are doing this with other people’s money, you are going to need to get some solid experience under your belt in order to be credible.

You might try to specifically cultivate an investor clientele as a real estate agent. But, alot of investors don’t use agents. Many of them feel that they don’t need a realtor and they don’t like paying those pesky commissions.

I do not know of a real estate company–major or otherwise, that is going to specifically mentor you or nurture your aspirations of becoming an investor. Becoming an agent or eventually a broker yes–but not an investor. That’s your own business. Alot of agents do invest in real estate on the side. But, there’s no position that would be the equivalent of an apprentice investor in a real estate agency. You will need to look outside your agency to get mentoring in this area.

I would suggest you see if there are any real estate investment clubs in your area. You’ll make some good contacts, probably hear some good speakers, learn a few things you didn’t know and perhaps even find a mentor. Here’s a link to a directory where you can find out if there are any groups like this in your area. Http://www.creonline.com/real-estate-clubs/index.html

Good Luck.

*Edit – I just realised after I answered this that maybe you were talking about managing the real estate investments of a major company like say McDonald’s or Wal-mart. If that’s the case, you probably would need a finance/business degree of some type.

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