Rent is still a loss for me correct?

I have seen everything from medical bills, loss of a spouse, divorce, loss of jobs to identity theft cause someone to have to file.

I would love to help you with the bigger projects only (additions and larger).

(Side Note: if you really want to jump your credit score in a few months (because it takes time for the reporting to update), and if your disciplined with your spending try this;1st) I went and did the math to see what my positive cash flow each month off my active income (let’s say you’ve got $500 left over after you go through your monthly spending avg. which is all you kick out vs what you bring in)2nd) Go get a credit card with 0% interest for 12mths with NO higher than 5% transfer fee.( their are some with low as a 0% transfer and I had got that one on my 2nd round cause my credit wouldn’t let me at first)3rd) do a transfer balance after 24- 48hrs of opening the card (Nope you don’t need wait to actually get the card just call in and tell them over the phone to send a Blanche transfer check to your bank account in the amount of your car Balance; because you’ve only got a 30day window of transfer with 0% interest for the 12mths)4th) PAY YOUR CAR OFF IN FULL, and take your old car note (let’s says it $450mth) plus your $500 positive cash each month and add all $950 each month to pay against the balance on the card5th) in 45days start checking your CreditKarma app (its free) and don’t worry about the 5% if it’s larger than your car loan % because once you’ve paid your car off your score will go up and in a couple months of $950 your car will be paid OFF not in 2more years or so...Thus saving you probably more than $2,000 in interest on the car loan (so you get to keep $$) and time in payments.Your saving money on interest (keeping it in your pocket thus making your pocket bigger!

@Thien TranWelcome to Bigger Pockets.

Excited to be here in the Bigger Pockets forums.

@Damien L. if you don't want to create a new business entity yet then you can appropriately track your income and expenses and then use Schedule E on your regular 1040 tax form.FROM IRS.GOV WEBSITE:Use Schedule E (Form 1040) to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

My name is Haley and I’ve been listening to bigger pockets and reading books on real estate for the last 6 months.

What I learn from Bigger Pocket and my daily work life as an acquisition/contract professional, always put a "subject to"/ exit clause to your agreement. say for example subject to his performance or ROI of mentorship.

For screening, I use the Bigger Pockets SmartMove site.