I learned so many lessons and the unfortunate thing is most of them are things I have heard or read before.

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.

Thanks for readingDavid $250,000 tax-free?

Appreciate the advice, always want to learn as this is my first investment property!

@John Reagan Johnson hope you don't mind a PMC answering, but most of our clients hire us because:1) They live out of state and don't have time & expertise to remote manage2) They don't have the time to manage3) They don't feel they have the necessary expertise and/or don't want to risk learning as they go and making an expensive mistake.Go read Kiosaki's Cash Flow Quadrant book.

@ Felipe, If you still manage properties in New Britain, I would like to learn more about your business.

Looking to learn anything and everything about the commercial world to hopefully one day be able to become an investor ourselves.

Either way, this is a valuable lesson learned.

You don’t have to pay $20k+ to learn to broker loans. 

You and your legal, tax and financial advisors should review this transaction in greater detail, especially the PLRs, to ensure you understand the significant risks involved and are structuring the transaction as close as possible to the PLRs to mitigate some of the risks.