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Updated over 7 years ago,
Can I turn tax lien investment into a business?
Hi everyone, I am new to real estate investing. I just graduated from college and landed a job not too long ago. I don't have money to buy a house right now and I think the real estate prices are too high and risky for me to jump in at the moment. However, I am interested in tax lien investment. I am wondering if I can turn tax lien investment into a business? Do I have to file any application or I can just buy a lien without file any business application? Should I create a LLC or wait a few years? I will only have $10,000 to invest next year, should I not create a LLC since profit from tax lien will be low? The reason I want tax lien investment because I want to buy a drone (I guess you can say this is for business to check out properties) and I want to use personal expenses (electricity, internet, and cell phone, airfare, and etc.) to offset the tax lien profit (I know it's not a lot right now, but I think I will keep doing tax lien investment for the next 34 years). I don't want to seek any CPA as of right now because I don't want to spend extra money, I want to learn about your experience. Any advice will help!
Thank you in advance!