Quote from @Frazz Wick:  I would like to take on more properties (as a side hobby, for now), I do not think it is a "side-hobby" to manage properties for a 3rd party investor.

Given the complexities involved, especially in the Chicago, it's so essential to understand the tools available to safeguard your assets.Umbrella insurance serves as an additional layer of liability coverage beyond your standard property insurance.

Under the Sheetrock was where the mold was, along with 2 other layers of plywood and paneling.

I went under contract on Friday afternoon and walked the house with the project manager on Monday morning.

Focus on getting this deal done cleanly and profitably — you can always layer in LLCs and asset protection strategies as your portfolio grows.Feel free to reach out if you want help mapping the BRRRR financing steps or setting yourself up for a smooth refi later!

Anything you do remotely adds a layer of complexity and cost.

HELP! I'm a Navy reservist, a part-time ICU nurse, and over the past few months, I've set up an LLC, bought a condo in Fayetteville, AR renovated it mostly by myself and already have a tenant. I'm eager to do more pro...

This type of entity layering can help shift the income in a way that changes its tax treatment.That said, implementing this kind of strategy requires careful planning and precise execution to stay compliant with IRS rules.

I’m currently disputing the charges, and the credit card company has frozen the funds while it’s under review.

Now I’m thinking about converting it into a Series LLC.When I bought the Mexico property, I purchased it under my personal SSN through a fideicomiso, as required under Mexican law.