Keep building, you’re on the right track!

It also requires different reporting of that separate interest expense on the K-1 each year so the partners know they have the obligation of tracing that interest expense to however the partner used the distributed proceeds.I typed all this up and realized Mr Brooks has left the building and posted this 6 months ago, but hopefully someone else will find this useful!

I am 30 myself income is good and I love my job so I am not looking to replace my income, just looking to invest wisely and build wealth. 

Low maintenance building, top-end rents for the area due to the extensive work that was done and the location.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

Fixing and flipping real estate has become one of the hottest ways to build wealth.

The more deals you’re part of, the more you learn about:✅ Structuring deals✅ Managing risk✅ Negotiating with partners✅ Handling financingTaking part of a good deal helps you build real-world experience that will pay off big in the future when you do bigger and better deals.3.

I then did some wholesaling, land flipping, did some more buying and am now just doing lending to build up active income.

On top of that, FHA has very strict and particular rules around income.

I think working with an architect to build something really unique and custom is always the best move if you have the budget for it.