All Forum Posts by: Account Closed

Up at 4:30 am

Workout 4:30-5:00 am

Breakfast  5:00 - 5:15 am

Read / Study (German, Spanish, Italian or Investing) 5:15 - 5:45 am

Get ready for work 5:45 - 6:15 am

Out the door by 6:20 am

@David Lawson You just took a crucial first step. You started networking. Welcome to the site and best of luck.

Develop a plan. For instance, spend the next 3 months getting your personal finances in order, learning how to find a property, analyze a property, finance a property. Basically just spend a few months on this site reading blogs, listening to podcasts, using the educational tools, etc.. All of the resources that you need to get started are on the BP site. This is just an example of a plan to get started, but you get the idea. Good luck.

Welcome to the boards and good luck. The people on this site are always willing to help you out.

You've come to the right place. Welcome and Good Luck.

I'll take your advice and talk to a real estate CPA. This really goes to show the importance of using CPA's, lawyers, agents, etc. that are familiar with investing. If I hadn't decided to get serious about investing and found BP I would still be unaware of this. I'm learning so much here because of people like you who are willing to take the time to answer our questions. Thanks.

I have a house that is paid for and has been used for rental property for the last 20 years. It was never put into an LLC. We bought it new in 1986 and lived in it until 1997. The cash flow that it generated was always taxed as income. Can I now move it into an LLC and take the depreciation?

@Nick Donato I can't help you with the HML question, but I did want to welcome you to the boards.

I used to go strictly white but for the last 5 years or so I've been using a really light gray with white moldings and doors.

@Angela Abe It doesn't really matter how old you are. There are pros and cons to being both young and old. Time is always a factor but there are people on here that have made amazing progress in just a few years of REI. Have fun and good luck.