#497 (8 MISTAKES) When Buying Your First Rental Property…

Main Street Business

English - April 30, 2024 15:00 - 11 minutes - 8.16 MB - ★★★★★ - 330 ratings
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Previous Episode: #496 The Blueprint To Scaling A Business In 2024 w/ Jeffery Hayzlett

Next Episode: #498 How to Build a $50k/Month Tax Advisory Practice

In this episode of the Main Street Business Podcast, host Mark J Kohler delves into the eight common blunders that new investors make when acquiring their first rental property. Learn valuable tips on how to sidestep these errors and set yourself up for a prosperous rental experience.

Here's what you can look forward to:

Mark highlights the significance of tracking expenses from the start to classify them as startup costs. Emphasizes the need for a proper LLC for asset protection when owning a rental property.How to set up a separate bank account for the LLC to avoid commingling of funds.The benefits of using a warranty deed and seeking professional assistance for the process.The need for landlord insurance to protect against unforeseen events and liabilities.The importance of knowing and understanding lease agreements as a property owner. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!