IRS CP2000 Notice: Why Real Estate Investors Need to Think State & FederalQuick story that could save you thousands in tax exposure...Had an investor client who received a CP2000 notice for unreported rental income.

Any potential or existing Broadstreet investors should be aware that the SEC recently filed a lawsuit against the fund and its principals and asked the court to issue a temporary restraining order, appoint a receiver, and order an asset freeze.

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

There is a fine line between offering a well rounded service and leaving too much in the home.I love the business and glad to be a Superhost but this has been my experience.  

As soon as possible after receiving a booking, I personally call the Guest and thank them for booking with us, ask if they have any questions and ask if there is anything that we can do in advance to prepare for their stay.Guess I'm just old school.....But then again, 11 years and only 5 STAR reviews......

I’m 37 and I’m wanting to do real estate full time eventually(if it takes 5-10 years, that’s fine). 

Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.Pay attention to which platform feels the best to you as you perform these functions.

I just saw that Antonella Parra Gonzalez, a third-grader at Harris Elementary School in Gilbert Public Schools, recently received the Arizona English Learner Students Success Story Award.Here in Austin, many investors are asking me to set up searches in Eanes ISD, Round Rock ISD (that also cover some homes within the Austin city limits), and then of course Leander and Lake Travis ISD.

I actually ended up going through a big career change, and attended a 6-month bootcamp to learn Software Development after 7 years cooking professionally in fine-dining kitchens. 

We have tried multiple local collection agencies, and we have not received a penny for over a hundred thousand dollars of bad debt submitted to them.We keep hearing, "It takes time" but it's been well over a year with the most recent one.