There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

In addition to property sourcing, I require an agent who can negotiate effectively on my behalf, ensuring I secure the best possible deals.If you have experience in identifying distressed properties or working with real estate investors in Florida, I would love to connect.

Quote from @Kwanza Price: Thanks Chelsea for your reply.I mostly wanted to understand what the experience was like and if you have any advice for setting up an LLC/IRA?

Events like this give the opportunity to meet and talk to investors from all over the country, doing different kind of investing, and with a varied amount of experience.

Additionally, as a new investor, I am curious if you would recommend this strategy based on your accumulated knowledge and expertise.

A few questions for those who have experience with this: 1.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

These are professionals with additional training and a stricter code of ethics.

I have a referral I can send you, I recommend going with an individual with experience in co living rather than a traditional company who doesn't really understand the model.

Additionally, another neighbor who owns an adjacent parcel has expressed interest in joining the project, contributing their land to the development as well.I believe this could be a great opportunity for all of us, especially as a unique retirement plan for my family and my neighbors.