Life is Hard When You're Old
January 18, 2018
I just got back from a Landlord Investing Meetup Event.
Within the 3 hours of being there, I seriously have learned so much and met a few landlords and investor.
I met an investor from Houston and he told me his mistakes and how he went bankrupt. He went bankrupt because he got audited by the IRS.
That’s scary and definitely motivated me to know the tax read the tax laws or to hire a good accountant.
Crazy enough, this guy use to own 4 duplexes and now he is down to 1. I think he will be a great source to learn from, especially because he made so many mistakes and went bankrupt before.
We exchanged numbers towards the end of the night.
I also asked a few questions to the real estate attorney that was there at the event. I asked if I were have multiple businesses under one trust would I need to create multiple LLC’s? At first she was hesitant to answer me and gave me her card, but when I told her that I bought my first house at 22, she told me that I needed to make a series LLC.
What I learned from this event was that adults want to help young people and easier to go far in life when you start early. People are more hesitant to help you and want to take your money once you get older.
I am definitely buying another house this year.