If it sounds like a venture worth taking on for you or any Agents you know in Indianapolis, please reach out to me!

Hi,I am new to the game, and was wondering if anyone can recommend the next set of books I should read to help better prepare me for my first investment property.

Be conservative, be reasonable, prepare for the worst while you hope for the best.

•Banning ownership of your IRA of more then 10% of ANYTHINGoIf you wanted to own a rental house in your IRA, only the IRA itself could own it; you wouldn’t be able to use the statutory protection of an LLC.oNo more use of Land Trust or PPToNo more Checkbook IRAsoNo more Joint Ventures in which your IRA owns 10% of a deal or an entity•A proposed limit on Roth ConversionoOnly Pre-Tax traditional accounts may be converted to a Roth IRAoFor you business owners, this will effectively mean that only your Employee Elective deferrals ($19,500 in 2021) and Pre-Tax Employer matching will be eligible for Roth Conversions.

@Lamont Marable check your local building and fire codes...putting living space below grade carries a lot of life-safety requirements and needs to be permitted...worst case...if there is a fire and tenants cannot escape...and you knowingly put living space below grade without the required safeguards in place...RE investing career over...Just do it right if you venture down that path...hiring an architect is always the best approach to something like thisBest of luck

Being prepared to pay the mortgage off if called due is my biggest concern.

The environment is always changing but I encourage you to try to look at the bright side and make sure you are preparing for issues but don’t that detract you from appreciating the wins.  

To prepare for when that time comes, I’m reading books, watching YouTube videos, and on bigger pockets and I know it won’t replace actual experience  but those are just the steps I’m taking right now. 

Would love to connect and chat properties, since we are so similar would love to see how you are handling yours, and if I can offer any words of wisdom either on your current one, or preparing for your next one!

I am in the DFW area and have several single family rental properties and looking for CPA that can prepare tax filing.