How long have you been into rentals?
After a few false starts... 15ish years.
I only rent to white Mormons. Once I figured that out, it became easier.
Nice! That's a great strategy, especially if you're doing your own property management, very smart. I just recently got turned on to the concept within the past few months, Rich Dad Poor Dad opened my eyes. Then learning about the potential tax benefits ripped my eyelids off. I've been devouring books on the subject.
I am angling to get into this asap myself. Right now I am learning as much as I can in anticipation of a housing market correction, it's like drinking from a fire hose.
If I may ask, do you have any suggestions for good learning resources?
Mainly, the best tricks to acquire property with very little tax liability, but no one is going to write about that.
If you can inherit something via negotiation, it is best, where property ends up in an irrevocable trust where the tax liability will never go up.
I don't know of anything great to read, but I'd recommend starting with a duplex,where you occupy one side.
Once you have enough equity and down payment, rinse and repeat.
Once you have enough residential, get some commercial.
Once that is steady, buy or start a business where the return is better than property.
Taxes suck, basically. The most valuable thing you can pass on to your kids is lower tax liability relative to their peers.
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