Hello,
I just found out that I am being laid off due to funding cut backs. Since I have over 15 properties, I like to start a RE company from one of my units in Tennessee. I have $50K to start, and I need some direction on how. I like to purchase more properties; keep some for renting income, and others to buy low, fix up, and resell it.
Thanks,
PR
You already own more property than 95% of the people here. Just keep doing what you’ve been doing!
Seems like you know much of the mechanics of it, just increase your volume.
Thanks to both of you for your encouragements. I’ll look into the types of licenses that I might need in TN for doing this full time, and have the ability to link with the MLS listings, and other investments resources.
I’m thinking of incorporating in order to put in for benefits – 401K, medical, dental, etc. Or I might wait until later, once I grow my business.
PR
Solo health benefits can be pricey. Look into the special savings plans for healthcare, I think you can contribute tax free money in some cases and the interest rates are higher. I don’t know this for sure as I’ve never really investigated them much. The plans I am talking about are a glorified savings account that money gets banked into on a regular basis and is there only for use when you go to a doctor, etc. Here is some info on them to read over: http://www.treas.gov/offices/public-affairs/hsa/