If I would have known about these earlier I would have bought less personal real estate, but again it depends on your goals of leverage, building wealth, risk, and your overall perception on how to handle your money.      

You building and handling the rental, hanging signs, etc is an orange.

At first this sounds like a good thing because its a cheaper entry level but the more you own the more complicated life can get.

While I’m just starting out in real estate, I’m determined to build equity and achieve financial freedom through thoughtful investments.Here’s a little about me:I’ve been exploring wholesaling and land investing as potential entry points but haven’t made my first deal yet.

You certainly have a good skillset and occupation match to handle it, but let me say something that others might not say.

Currently looking in the Belleville area, simply for lower entry costs, but we want to get into the GTA market ASAP!

This log should include:•The date of activity•The property worked on•Specific activities performedExamples of activities that typically count include approving tenants, setting lease terms, handling repairs, and other hands-on operational tasks directly related to managing the property.

I hired a lawyer to handle it, and she was given proper notice. 

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Hey Becky,When you sell the property, the LLC will still technically own the property until it is formally restructured, so you will need to amend the LLC’s operating agreement and update its ownership structure to reflect the change, ensuring the absent partner’s interests are properly dissolved, and taxes are handled accordingly.