New guy, young and learning in central Illinois

[Chase Spitzer]

I live in a small town called Decatur, IL with about 100k people.

I am 25 and bought my first two properties with cash I had saved since I was 17. I bought two small two bedroom homes from a long time family friend to get started at the end of 2012.

I also own a property my dad lives in. It was his house but its in my name and will be mine when he passes.

I now saved up enough to buy another home in a better part of town. I am putting 25% down on a small 3 bedroom in a great location. The tough part is my work is seasonal and I get paid through payroll companies. So it looks like I have had 6-7 different employers over the last 2 years. I have finally found a couple banks that do everything in house and are willing to work with me.

I really hope to learn about what to keep track of and do for tax purposes and whether or not I should do an LLC. How these things will help or hurt financially and with purchasing more property down the road. This will be my first mortgage I take out.

To give you an idea is a nice little house in a good area and its a little under 60k. Expecting 750 a month rent.

Thank you and I look forward to learning.

Chase