Hey Bigger Pockets community! This is my first post so be gentle.I'm working on growing my wholesale business to six figures in one year. I've also been trying to find reliable systems to simplify the process. I came ...

where were you when about 200 plus families in La I had to foreclose on and take their investment property from them.. its a nightmare I am not saying no debt its not realistic until you get to a certain level but having free and clear assets is a choice and no one can take them from you..I am a gambler anyway I gamble on appreciation every day.. and value add..so maybe I am not the best to have this argument with.but when I look at the truly wealthy friends I have and I mean truly wealthy  not 7 figures but 8 figure to 9 figure net worths most of what they have is paid for it not all.. unless they are in big syndicated deals.. houses are paid for second houses... house s at the ski areas the lake front homes.. etc etc.. but I guess I am just more in the limit debt camp for long term liabilities..

I could probably setup and optimize lead generation funnels for acquiring various RE leads (eg. foreclosure leads) worldwide.

Important is that mentors are working/teaching with worldwide real estates, definitely not just in one country.

@Scott LongVirginia will require you to report the rental income from the property in NY because as a Virginia resident, you are required to report world-wide incomeNew York will also require you to report the rental income because the rental property is located in NY.To avoid the "double-taxation", Virginia will provide you a credit for taxes paid(if any) to New York.You are able to withdraw money from the LLC to your personal account.

*points to corner*Now lets git on that new fangled world wide web, and do us some searchin'!

Filing taxes as a professional gambler is brutal.Clearly, I am not afraid of what some may perceive to be "risk."

Since none has it nationwide (may be worldwide), why not we START IT?

Well, I would do Economics as that gives a worldwide view of how things work between countries and esp. we being in the 'World is Flat' phase...

ThanksAll US citizens are required to report their worldwide income on their individual income tax returns.