Starting Out

User Stats

5
Posts
4
Votes
Kevin Sellon
4
Votes |
5
Posts

What are the best ways to get established as a 1st year investor?

Kevin Sellon
Posted Jan 22 2022, 08:12

Hello,

I am just starting out in Charleston SC, I work as a bartender and project manager for a restaurant in downtown and am looking for a the best way to become financially independent as soon as possible. We have about $100k to start investing and have already set up an LLC in the state. My main question is what are some of the best ways to start showing income for our company to get approved for loans? Should I put my wife on payroll as a property manager?

I would love to quite my 9-5 (actually 4pm-2am) as soon as possible and show my main source of income through the LLC.

We are currently in the process of closing on a home with an ADU in the backyard that brings in about $2700 a month through Airbnb and feel like this is great first step. Our main focus will be BRRRR'ing and buy and hold.

Any advice or thoughts are welcome, I really want to get a conversation going about how to make those first steps to work for yourself as I haven't been able to find many posts on the topic.

Loading replies...