As a private lender, how do you report the profit you make for tax purpose?

Initial conversations went really well.

Also the information often seems outdated.Check out this article from Inman ... https://www.inman.com/2016/05/18/zillow-ceo-spence...explaining how the CEO of the company sold his home for way way less than the Zestimate.I've been at conferences where even the Zillow staff says it is the number people love to hate.For me it is a conversation starter....not one that is supposed to be accurate.   

The start up costs of the entire field setup is likely much less than $20k, and may even look into an SBA loan for that if not private money.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Hello Members,I am new to  BP & this is my first post ,, So I hope I get some leeway in my first presentation.I am attaching an image of a sample spreadsheet I drafted a few minutes ago - to  engage and hopefully ...

https://www.biggerpockets.com/blogs/9145/59865-div...https://www.biggerpockets.com/blogs/9145/53959-vet...booksthe bible that every recommends is Investing in Real Estate Private Equity by Sean Cook.   

I am a private investor that does some small funding here and there.

Say you purchased the 2nd position privately from the first position lender, and the first position started the foreclosure process.

I am fully not equipped to move forward just yet, but what is the usual next step after finding a motivated seller in terms of conversation with them?