All Forum Posts by: Sandra H Kopper

If I were you, I would consult a good tax accountant (CPA) regarding the creation of an entity to pay yourself W-2 income from.

There are several possibilities and a good CPA should be able to tell you the advantages and disadvantages of each one.

No, I am not a CPA looking for clients.  You'll need a good CPA anyway for your real estate investing so find one sooner rather than later.

Sandra

It is never too late to learn financial wisdom.  I, also, recommend Dave Ramsey's Financial Peace University.  While I may choose to invest a little differently than Mr. Ramsey, his basic financial education is right on target.  There are soo many good resources out there for you to read and watch.  Rich Dad, Poor Dad by Robert Kiyosaki is a classic.  All of the Rich Dad Advisor books are good.  The Bigger Pockets books are good.  Best wishes to you as you begin to think differently about money.

Do any of you have experience with one or more of the Delaware Statutory Trust companies such as Kay Properties & Investments, LLC?

I would appreciate you sharing your experience.  Thank you.

I'm no expert on this but I'm wondering where this property is located.  Some areas of Oklahoma and Texas have such unstable soil that foundations and driveways and sidewalks are a constant source of frustration.  Maybe you can have a good, open discussion with several vendors about what to do now that might prevent future expenses.  Unfortunately, you will have to remedy this situation now.