625: Live Takes: How to Tackle the Tax Man by Buying More Real Estate | Bigger Pockets Podcast
Every investor wants to know how to avoid taxes. Many rental property investors get into real estate for this reason alone. And it makes sense—rental property write-offs are not only common in the world of real estate investing but can be very lucrative in almost eliminating your yearly tax burden. So what happens when you feel like you’ve maxed out your real estate tax benefits? Is there a way to pump out even more tax advantages from the same property?
We’re back again with another Live Takes episode, where our hosts, David Greene and Henry Washington, do their best to answer the BiggerPockets community’s investing inquiries. Joining us are four investors each at different stages of their journeys. These investors ask about how to reduce self-employment tax, finding a mentor when you’re brand new to the investing game, what happens when partners disagree on where and what to invest in, and how to maximize depreciation on a cash-flowing property.
Do you have a question you’d love to ask David? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot!
In This Episode We Cover:
How real estate professional status can greatly reduce your tax burden (if you qualify)
Why smart investors look at their income before buying their next property
The most valuable thing a new investor can bring to a mentor
How to know when to pivot investing strategies and the bright side of “shiny object syndrome”
What to do when you and an investing partner can’t reach a compromise
Building and buying depreciation so you can keep more of your cash flow
And So Much More!
Links from the Show
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
Get Your Ticket for BPCon 2022
David’s YouTube Channel
Ask David Your Real Estate Investing Question
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Subscribe to The “On The Market” YouTube Channel
David’s BiggerPockets Profile
David's Instagram
Dave's BiggerPockets Profile
Dave's Instagram
Understanding Rental Property Depreciation
9 Simple Steps to Finding the Best Real Estate Mentor for You
Henry's Instagram
Click here to check the full show notes: link
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