Getting an LLC in place from the start can provide peace of mind and give you a chance to familiarize yourself with the process before expanding your portfolio.

Purchase price: $250,000 Cash invested: $14,000 I purchased and managed a rental property in Chicago, focusing on strategic improvements and tenant satisfaction to increase both its value and profitability.

You know this and the reason I am saying that I am considering in getting a real state license is the connections, the access to listing off market and possibility of earning commission that I can use to increase my portfolio.I think that being an investor agent will help me build a reputation and that can be good or bad.

Upon BP member recommendations, my husband got his real estate license which now helps increase our access and decrease our transaction costs.

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

You can probably find some around DFW in some of the outer cities for around $250,000, so 1031 the ones with the most equity into more properties with chances for more appreciation.One thing I would suggest is not to buy NEW from the big production builders. 

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.  

We've noticed 3/1's have had more success as that is what investors are looking for and hindering my chances at a sale.

You'll want to print and save the SS-4 Letter that you'll have the chance to download at the end of that process.