You've just been offered what sounds like a great deal: For just a little money down, you can assume the mortgage on a piece of property you really love and become its owner.
Purchasing a fourplex, small apartment building or more can be an exciting investment that brings in some extra money. Whether you are looking for a way to make passive income during your retirement years or for a way to make some extra income, buying rental property can be an effective means to accomplish either goal.
It's very common for those starting out in real estate investment to realize the benefits of creating a limited liability company (LLC) after they have started the investment process. Creating an LLC for a real estate investment has obvious benefits: It means that you will be personally protected from being liable in the event of you making a loss on your investment.
1031 exchanges, often referred to as like-kind exchanges, are a great way to defer capital gains taxes when buying or selling a property. Provided that you stay within the requirements of 1031 exchanges, the process can be of huge financial benefit.