This is something I try to live by and teach my kids if I can - "A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly.

It is my weakest skill in the research process.

Relatively small amounts of interest income ($1600+ per year) is the highest taxed form of income I have found if you have kids at home.After earning a few grand in interest, It takes away my child tax credits and gives me an effective tax rate of 70%.   

I put my money where my mouth is on this.We lend our own hard-earned money to local real estate investors.

Then there’s this glorious tax season where you realize how many things you get to deduct that others can’t, while sheltering your income with depreciation, and earning tax free income with appreciation.

Well, three top reasons come to mind:It will allow you to deduct their earnings on your own tax return.It is required by law for any person to whom you paid at least $600 in 2023, total.

I am learning a lot about the business that, had I not gone through this process, I wouldn’t have learned nearly as much.

Or do  you have a computer print on the envelope?

The seller will end up with $35,000 less because the agent did not understand the market or the process of selling.

The play is that rather than having to wait until the foreclosure process is completed, the investor can rent out the property (and earn a return - after rehabbing it, of course) during the process.