Should I become a realtor?
Saturday, May 17
Let me start by saying that I did get my real estate license. There are two schools of thought here. , Method #1 - Spend your time doing what you do best. Part of me says that I am better off spending my time practicing law rather than scanning MLS. Pay the professionals to do what the...
1031 Exchanges Using LLCs
Sunday, May 11
Thanks @Sharon Tzib for your comment on my previous post regarding new investors using LLCs. You are correct that you have to be very careful how you use a LLC in a 1031 exchange. I thought it would be useful to summarize when you can and when you can't use a LLC in a 1031 Exchange. . ...
Quickbooks - Yes or no?
Saturday, May 10
I may be a CPA but I HATE bookkeeping. That is why I am so irritated that I have completely redone my books 3 times now to find the right system. Hopefully, this will save someone out there all of the hassle that I went through and get you started on the right foot. After entering all ...
LLC - Should I form one or not?
Friday, May 09
(The attorney in me needs to take over for a second.) I don't believe in LLC's for the average single family investor. There I said it. Why you ask? If you just have one or two houses, it is not cost effective. It costs about $300 just to form an LLC in Texas. This is the fee payable to...
How I Overcame Analysis Paralysis
Friday, May 09
I first ordered Carlton Sheets No Money Down seminar about 20 years ago and bought my first property less than a year ago. Yes, that equals 19 years of analysis paralysis... . To be fair, the property that I bought last year was not really my first property. I inherited three run do...