Hi Everyone!! New here and so I figured I lay down my current situation and see what guidance you all can give me. I've been watching the "Rich Dad" videos and realized that being an employee to a business or company simply isn't a long term strategy anymore. Any moment I could be let go for one reason or another, you all know. So I've finally decided to pursue after financial freedom. My 5 yr plan is to not need my job anymore and my 10 yr plan is to have a net worth close to a Million.
Anyways I've recently moved to Zebulon, NC area for my job (in Raleigh NC). Our house in Greensboro is currently going though the process of someone purchasing it and we just purchased a house here in Zebulon with a conventional loan as our primary residence. I am a military Vet and have the ability to still use my VA loan.
So some questions I have:
- Is it best to start of with an LLC in this kind of business or incorporate it in any way?
- If you were starting virtually from nothing (except enough cash to make a down payment), how would you go about getting a rental property?
- I'd appreciate any other advice on how to get started with this.