I think one of the biggest positives apart from adding to your portfolio and getting an extra $100 a month is establishing a record of being a landlord and making a profit. when people talk about the Brrrr strategy they don't mention that a lot of lenders won't lend to you unless you have provable experience as a landlord, almost the same principles as a 1099 employee you need to prove that you have an income in that industry

@Michael Perreira, sounds like he may have a lot to lose with too much exposure in court if he really hasn't been paying his employees.  

So my goal was to create careers and 10 years of W2 employees only on investment properties is something I’m proud to have accomplished (in KC that’s very rare,W2) but you know as well as I do that I made less that way but I needed to see if even possible.

I have seen businesses close where the employee shows up for work in the morning and there is a note on the locked door, saying "sorry we are closed".

VF is moving a couple hundred more employees to Denver this summer so we should experience another great rental summer like last year.

In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a specialty trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.In addition, please note if you purchase debt-financed real estate with your IRA, unrelated debt finance income tax should apply to the income attributable to debt-financed real estate held by your IRA.

Hi everyone my name is John Kaunath I am a full time employee in the oil field in west Texas.

By opening the business and putting certain individuals on as employees i believe it will allow me to write things off such as my mileage and meals and things of that nature.

@Andrey Y.The company he worked for never paid any pension for any of their employees and years later, when things started to surface, it just disappeared into thin air...

For our 750 units we have 12 employees.