This tax is assessed on income derived from the leveraged portion of the real estate owned by the IRA, and also applies on the sale of leveraged property in an IRA.

I both personally invest in real estate and help others gets started/expand their portfolios in various Midwest/midsouth markets.What I do with my kids: My wife and I have 2 of our rentals that are on the same street, with a home in between them.

Thank you,Phil Don’t have any experience with the mentioned mentors, but I do have 45 years experience in commercial real estate investing.Flipping (wholesaling) commercial properties require the same base of knowledge (real estate principles, real estate law and real estate finance) that is a foundational requirement for flipping residential properties; PLUS, extensive knowledge of the commercial property TYPE one is trying to engage with, and extensive knowledge of the local real estate market for the subject property type. 

Real estate is all about learning as you go and playing the long game.

Meet with real estate agents?

It’s great to see your enthusiasm as you dive into real estate investing.

Residential real estate has always been a great spot to invest since it is easier to get in/out than other sectors.

Hire an accountant—but maybe not for $6,000/yearA real estate tax pro can help you save money, but $6K a year is way too much unless you own multiple properties.

To have your taxes prepared for EACH llc - and YES I strongly suggest you have a tax preparer for your taxes, one that specializes for Real Estate investors. 

I am 20 years old and this year I decided to take my path into the real estate world.