I am currently working in law enforcement, but i would like to make pasive income to supplement my salary, also when is retire in about 7 years i dont plan on working for anyone but myself :cool:

If you hold rental real estate there may also be specific liability coverage you should consider.In addition to that, you need to seriously consider getting a personal umbrella liability policy.The thing about insurance is many think it is expensive until they need it and unfortunately, most state laws prohibit back dated coverage now.

New here from Utah, hope to be able to learn a little more on the site, I just got involved in real estate, dropped out of Law School when I felt that it wasn't for me.

However, in some states they might view a bird dog as a party who should be licensed in order to collect finders fees, so check your state laws.

So many people were screaming for the government to cut rates, well here’s the result.A law of physics states that every action has an equal and opposite reaction.

I'm hoping that this group will be a place where we can share some insights on local laws as well as a place to do some networking and organize some events.

Depends on your state laws.

Corey,I prefer (in my personal situation) to use LLCs for both flips and holds, however, to answer your question, many states how specific laws and requirements regarding flips and therefore, you should consult an attorney in your state.

I can't answer your question, but I can tell you that laws vary by state and you want a contract that complies with your state law.It's not a bad idea to pay a lawyer to look over any contract you intend to use.Never use any contract that you don't completely understand, because a judge is going to hold you to every word of it whether you understood what you were signing or not.

Your signature promotes a law firm, while your account says that you're a Property Manager.