While LLCs are handy little suckers, their use for new investors can be somewhat limited in a practical sense.

This limits you to investors, Realtors, and a few others.

Buying put options could limit the risk to some extents while achieving much of the same results.

I was looking at the upstate New York Region of Orange County (Newburgh) because prices are within limits for me.

They are a nice "bucket" to put your income and expense numbers into and a good way to limit your liability personally.

So, it won't impact your 7 yr limitations.

Just for starters, because I know the sky is the limit in this biz.

One will never know if you do not take the risk and seek out your dreams of becoming an investor.Will you fail possibly so but with knowledge you can limit failure.You now have two simple choices!

hiya,let me introduce myself. i am a 21 year old enthusiastic investor from toronto, ontario. i have been involved in the purchase of three properties this year ranging from multiplexes to houses with acreage. this limited experience of actually getting proactive and getting started has taught me way more than any book has ever taught me. a tip to other beginners. i have also had some background knowledge in the real estate industry with my parents starting out a real estate rental business 10 years ago. however their knowledge is quite elementary and i have a lot to learn. fortunately i have found this site. and while browsing for the past couple days i have found that there are many invaluable resources and brilliant minds aboard.ps. slthough i have found the canadian content lacking i am confident that with our similar laws the ideas are all valid.looking forward to meeting you,joe

Prices in the MLS here range from $49.9K (4/2, stick built, older frame house, inside the city limits to about $3.6MM, 6/5, lakeside, boatlift,hot and cold running maids, etc.