Any updates on your progression?

Once you sell the property, it will be transfer to your COGS on your P&L.If you are planning to keep the property as a rental, it will go in your balance sheet as a fixed asset or construction in progress under fixed assets.

I’ll keep posting my progress on this thread to keep everyone updated.

The LLC was formed in NJ with the custodian as owner -- Operating Agreement is in progress.

Remember to let us all know about your progress nguyen you make your first steps :) Good luck on the journey!

Hey so I’ve made major progression in getting these list!

She’s has a steady job with the DOE (department of education) we both make around 160k a year combined and we have only 20k saved at the moment.

You want to make sure you have strong demand, steady growth in student population, good overall local economy.Location and where to invest is going to come down to the deal as it’s very difficult to find a good deal for sale in a major university town.

Over 6 months, I had to tell him 4 times to update the pictures as progress was made. 

@Jalen Chanthaboury congrats on your store and getting into real estate. take a look at owner financing. an owner will not pour through your taxes and bank accounts and job history like a bank will. you eventually will need to refi out of the owner finance arrangement to more permanent financing with a bank. at that point you will need steady income to show them etc. however, it gets you in the door. i’ve done it a few times. happy to explain it more. just message me if you want.