Welcome to laravel
You should use laravel 5 it has most of the tools built in it has better api support, middlewares, etc. etc. If you can wait (15-20 days) for 5.1 which has longer support period (though you can start with beta version right now or upgrade to 5.1 later) .
You can work with your old database directly by just creating models for table.
if you want to create schema from your old database use https://github.com/adamkearsley/laravel-convert-migrations
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