One of my proudest accomplishments in my real estate business has been helping my private lenders grow their retirement investments through real estate investing. And with tax season upon us, I am feeling even more grateful for the opportunity to file 1098 form and report more than $240,000 in interest we paid to our private lenders over the past year.
When we first got into real estate investing, I knew that I wanted to find a way to work with private lenders who were looking for secure investment opportunities that would provide a reliable return. And by building relationships with individuals in our community, we were able to attract private lenders who shared our vision and were looking to secure their investments. (Schedule a call with us https://calendly.com/talk-to-eve to learn more about multiple investment opportunities and benefits of becoming a private lender and grow your retirement savings. Consult with your CPA and Self-directed IRA custodian or financial advisor).
Private lending is a powerful tool for real estate investors, as it allows us to secure the necessary funds to purchase multiple deals without the need for traditional bank financing. By working with private lenders, we are able to offer them a higher rate of return on their investments while also benefiting from their experience and expertise in the real estate industry.
For me, filing tax form 1098 is also a way to reflect on the past year and to feel a sense of accomplishment. Seeing the total amount of interest paid to our lenders is a reminder of the hard work and dedication that goes into real estate investing. It is also a testament to the power of private lending, which has allowed us to grow our real estate portfolio and to help others to achieve their financial goals.
As a real estate investor, I have always believed in the importance of building relationships with my private lenders. These relationships are built on trust, transparency, and a shared commitment to financial success. Filing tax form 1098 is just one small part of this process, but it is an important one. By being open and honest with my lenders about the amount of interest they have earned, I am able to strengthen these relationships and to build a sense of trust and mutual respect.
One of the things that I love about private lending is the flexibility that it offers. Unlike traditional bank financing, private lending allows us to structure deals in a way that works best for both the borrower and the lender. This flexibility allows us to be creative and to think outside the box when it comes to financing our real estate deals.
Filing tax form 1098 is just one small part of the private lending process, but it is an important one. By taking the time to properly document and report the amount of interest paid to my lenders, I am able to build a stronger relationship with them and to demonstrate my commitment to their financial success.