We purchased an RV last year under our personal names that is primarily used for business travel.

I see why they say, never go into business with family.

I currently have a lawn care business that I run myself.   

I was conducting an extremely seasonal business and after 8 years of operation the business was insolvent. 

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

This will allow you to put the loan into the entity or business name of your choosing.

Today we basically run two businesses, one in REI and one is a brokerage team.

Here is what the IRS says on the subject: Election for Husband and Wife Unincorporated Businesses A business owned and operated by the spouses through a limited liability company does not qualify for the election Only businesses that are owned and operated by spouses as co-owners (and not in the name of a state law entity) qualify for the election.

I am here to create a business strategy that protects personal and business investments and mitigates risk,  procure a coach or mentor, and set up tax strategies to create long-term wealth for myself and my family. 

How do you approach educating people on the realities of the business?