And for someone coming from a W 2 5k a month job.. to freedom to make your way in the world and double or 4X your income... seems like a decent risk on their part.I agree on the 800..

Please point me to the right direction of either I just keep going solo until I have a few more properties, or as starting if I am a good case for the right service from a CPA.Business current status/goal:2022 currently establishing Whole Sale Marketing and Real Estate services, I would like to:-Creating anonymous LLC (Florida double LLC) to hold rental properties-If this anonymous LLC can also be our holding company structure that CPA see beneficial for us.

Hi All, I am unable to attend BPCON 2024 now. So I am looking to sell my ticket to someone. I got early bird pricing and signed up for an option workshop on Sunday. If this workshop isn't of interest I've been told th...

I honestly don't believe anyone should be paying double-digit interest rates for hard money, and I'm on a mission to change that. 

What if you were able to double what you did and make $100k that year? 

All will require a non-refundable deposit (usually $2000 - $5000), most have a "transaction fee" or "admin fee" (usually $295 - $600), and all with require you to pay for the double closings costs unless they can assign the contract to you.  

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

The months’ supply of inventory has nearly doubled to 7.0—a substantial 94.4% increase from July 2023.

Especially after doubling up property taxes for being an out of state investor.

I recall seeing a recent post from someone else in a situation like this, he even paid the collection but score is still too low to apply for a mortgage.Certainly speak to an attorney to double check your options.