Since they are 1099 independent contractors, payroll taxes are not paid by the brokerage so agents have to pay about 20-30% out of the portion of the commission they get to Uncle Sam for income taxes, depending on their tax bracket and individual tax situation of course.

Remember, buying a property is a financial decision that should align with your long-term goals and comfort.If the new lender offers a better rate and lower monthly payment, it’s reasonable to consider that option.

Over the past eight years, I have collaborated with hundreds of out-of-state investors, helping them find cash-flowing properties aligned with their financial goals. 

Very brief summary of article: CTA has a issued a nationwide Stay on the January 1, 2025 deadline for beneficial ownership reporting to the (Federal) Financial Crimes Enforcement Network (FinCEN).

But that doesn't mean they can be perfect for you.You may be in a situation where you don't even need one however. 

I am in a very similar situation  @Chris Scarazzini just starting out!

Define roles, financial contributions, profit-sharing, and responsibilities in a detailed agreement.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Hello @Daniel Reed,The supposed advantage of multi-family properties over single-family homes is misleading when you look at financial performance.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.