Starting off Wholesaling

Pooshan Kapil | @pooshan-kapil

Pooshan Kapil

Milwaukee, Wisconsin

4 Posts Total

0 Property Listings

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in Milwaukee, Wisconsin

Posted 6 Years Ago

4 Posts Total

Hello all,

I am a new real estate investor. Going to start off wholesaling properties in order to build up capitol for bigger, better pursuits in the near future!

I had a question for those more experienced in this area. I am looking to start wholesaling asap but I was wondering if I should first start a LLC with the my partner and operate under a legal business. Or is it better to go out and do your first couple of deals and get the hang of it and maybe not even start a legal business, as long as we're dividing up the work right and splitting up the profits.

Any other tips and advice are more than welcome! Looking up to soak up as much knowledge as possible!

Thank you all!

Pooshan Kapil

Robert Lawry II | @adminrei

Robert Lawry II

Jacksonville, Florida

36 Posts Total

3 Property Listings

Rei Media, LLC

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Experienced Investor in Jacksonville, Florida

Posted 6 Years Ago

36 Posts Total

Hi @PooshanKapil
I would just go out and do deals with no LLC to start. I would also do up a joint venture agreement with your partner. Your partner should have what your weaknesses are, i.e. Money if you don't have money, time if you don't have time.
My first experiences with partners taught me to do things deal by deal and to work with multiple people to JV deals.

Robert Lawry II, CEO & Editor

Rei Media, LLC

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