Newbie Hello

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Hello everyone. 

My name is Mike and I'm from the Albuquerque, New Mexico area.  My motivation is being able to eventually be able to generate a passive income which would replace that from my job.  This is necessary because I'm a couple of years away from retirement and don't look forward to the income reduction.  

I am open to suggestions/recommendations. For now, I have been trying to absorb as much information as I can (the podcasts, articles, beginner's book, etc.) as I have absolutely no prior experience in REI.

I have thought it might be useful to create an LLC or the like for the purpose but, of course, don't have enough knowledge yet to make that decision.

I've been looking through the local MLS at investment/rental properties but don't have enough cash for an outright purchase at this time.

Multi-family properties interest me as possibly having more ROI. I'm excited by all the tools available here.

Thank you for your help!

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Originally posted by @Steve Vaughan:

"...whether or not to establish an LLC. I would say no, if investing in residential property. Yes with commercial property / 5+ units. @Brandon Turner just wrote a blog article on that very subject:  http://www.biggerpockets.com/renewsblog/2015/05/18...    

Don't let the LLC debate stand in your way of taking action!

Thanks, Steve, for the LLC info and the link to the articcle.   Lots of reading to do in the evenings and loving it!