For most people starting a business is a scary thing.
Not knowing all of the ins and outs, the laws, tax information, how to register a business, and on and on…. IS PLAIN FRIGHTENING!
That is…unless you have a mentor to walk you through the process. Someone who has done it before and knows the process through and through.
That is exactly what we aim to do for you. We wish to give you an excellent guide to help you start on your business journey.
What is one of the first steps that you MUST take in order to begin your real estate business journey?
That’s right! Actually Forming Your Business.
When we first started this website we received many questions from people just like you who just didn’t know what to do first when starting a business. And because of not knowing what to do next, MOST of them became paralyzed with fear and never got their real estate investing business off of the ground.
I can now say that anyone who has been on this website (including YOU) has ABSOLUTELY NO EXCUSE for not starting their real estate investing business and living their dream life!
With that said, let’s learn how to form your business the right way step by step.
How to Form Your Real Estate Investing Business
Here at TheREIBrain.com we believe in checklists and step by step instructions to help you learn more efficiently and thoroughly.
Below, we have developed a quick and simple checklist for you that will guide you through the simple steps of forming your real estate investing (or any business for that matter) business. Remember, this section is on how to “form” your business; which means that it is the mechanics of actually starting with nothing and ending with a legal and solid business. It is up to you to build your business from there (of course with our help), but we’ll help you get started.
Simply read the description of each step and click the step titles to go more in-depth.
You might be thinking, “I already know how to do this. Just think something up and send it in.” YOUR WRONG! There is a bit more to it than that (but not a whole lot more). There are several steps in developing and registering your business name to ensure maximum impact and protection. From brainstorming to registering your business name with the right entities, it must be done before you can do any other business formation activities.
A business plan is a MUST. Your business plan not only helps you to sit down and actually design and understand the ins and outs of your business, but it helps you to set goals and chart out ways to reach those goals. Another reason that a business plan is a must is that lenders will not take you seriously without it. Without lenders, you WILL NOT be a successful real estate investor. So, click the link above to learn how to write a business plan that lenders will love.
Choosing a business entity type is one of the most important steps in forming your business. Not only does the type of business entity you choose dictate how your business is taxed, but it also guides how your business is run. From Sole Proprietorships to Corporations, each business entity type has its place; which entity type is right for you? Click the link above to learn about each entity type and use our tools that will help you choose an entity for you.
Filing the paperwork in the right places is very imporant. Each entity type has its own requirements for paperwork, so make sure you file the right forms in the right places. Click the link above to learn how.
An EIN is the unique identifier that the IRS and government use to identify your business. It is like a “social security number”, except for a business. Click the link to learn how to obtain an EIN.
Once you have completed all five of these steps your business is up and running and you are ahead of 95% of all other real estate investor “wannabes”.
Now it is up to you to build your business into an actual business. We want to stress once again that neglecting to form a business means that you are treating real estate investing as a hobby… NOT A BUSINESS. If you are serious about making a living with real estate investing YOU MUST HAVE A BUSINESS… not just a glorified hobby.