Want to Make Millions and Pay No Taxes? Try Real Estate

My mom tried for decades to make an easy life and build wealth by buying houses and renting apartments. And it's been absolute hell with tenants, etc. for as long as she's been doing it.

Just another reason I decided my real-estate investing will basically revolve around purchasing up REIT units. Let someone else deal with the nightmares.
 
The_Krakenite said:
My mom tried for decades to make an easy life and build wealth by buying houses and renting apartments. And it's been absolute hell with tenants, etc. for as long as she's been doing it.

Just another reason I decided my real-estate investing will basically revolve around purchasing up REIT units. Let someone else deal with the nightmares.
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There are other ways to do RE, though I'm not that savvy about it. Some people act as a middle man between house/apartment owners and AirBnB in touristy areas with really high rents. That way they're not responsible for the mortgage or other liabilites. There are similiar ideas for buying houses where you don't take on the actual risk. I've had one traditional rental like your mom and had a few issues with the tenants and even builders. I couldn't imagine owning 30 houses or something...that would be a full-time job.

There are also syndications and other strategies that aren't simply buy-and-holding property. Or flipping houses after you get them from tax sales or other events at rock bottom prices. The lack of liquidity makes things more complex but also gives opportunities you don't get in highly-liquid markets.
 
If your considering a 1031 exchange, but are tired of being the landlord. You can exchange into a “Delaware statutory trust “. Still defer cap gains. Invest with others in larger real estate deals.
 
Appleseed said:
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For many who don'n know the above is misleading
real estate depreciation is recaptured and paid at ordinary along with capital gains to the feds the state and locale municipalities at the time of the sale
In the meantime RE taxes are paid annually and upkeep daily
Much RE is over priced and purchased foolishly ....both residential and commercial.
When this occurs it takes years to rectify sometimes never.
There's and old saying....PROFIT IS MADE AT THE TIME OF THE PURCHASE.
Having said this real estate is a good investment but buyer beware
cheers
.
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%%
Good points.
Can put it in a self or is it non self,LOL, directed tax free account, but cant live in it yourself/LOL.
Dont have an up keep on land but have to pay property taxes.
Take Seattle, cheap condos are still for sale\
but SBUX moved out \too much crime. So many more ways to get ripped off\ but some say well when you have a loss you dont have to pay taxes\LOL:D:D
Still looking all year for RE\ may find something in 2022??
 
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