I first read Dean's books a year ago and have been wanting to get started. Now that I have fully recovered from back surgery, I think I am ready to get this going full speed ahead. In my research on properties in the local area (probably "over analyzing", a Realtor friend told me that WA has a law, RCW 61.34.020, (Equity Skimming) that prohibits "obtaining anything of value from the sale or lease option to purchase of the dwelling for the person's (we REIs) own benefit or use..."
Now, I am not a lawyer (retired military and teacher) and I really can't afford one at this point, so I am curious if anyone has encountered this through their dealings. Call me chicken, but the law says there is a hefty fine and/or imprisonment for violaters.
I really want to get going with this business. It seems very legit and a great vehicle to use in meeting the lifestyle my wife and I want. I would like to hear from and network with any DGers in Washington state. Our state has shown me they are very small business unfriendly. (I tried starting an other type of business and was permited and fee'd to where I couldn't get it off the ground)
Please share your advice, experience and contact info. I feel the need to speak with one of you about how you got everything started (ie, Master Business License, LLC or not, etc...) I know this is alot of me rambling on. Please help.
Thanks. Look forward to hearing from you.
All The Way!