Here's a quick glance into the conversations I had, and how I secured a great deal. After sending a mail campaign, I received a phone call from the owner of a property in my desired market. She lived roughly 10 hours away from this property, and received the property as an inheritance. She was given the property roughly three years prior, which had tenants inside at the time of transfer. Since she has taken ownership, the tenants have never paid her rent! Now, they are considered squatters, and the owner has no intention, energy, or head ace to deal with the house. I asked her, "In terms of numbers, what would give you peace of mind to have this burden off you." She stated that she would feel comfortable selling the property for 22,000. I didn't bother to counter, and we now have it under contract. In this deal, both parties are walking away smiling! Super neat experience.

As an aspiring CPA, I thought it would be good to share one of the great benefits of real estate. If you own rental properties, you may be able to deduct passive losses against your earned W2 income—up to $25,000! Here's how: - If you actively participate and your adjusted gross income (AGI) is below $100,000, you can deduct passive losses from rental activities. - The deduction phases out between $100k and $150k (50 cents for each dollar over $100k), and you're required to own more than 10% of the property. If you want to take it further, you can use 26 CFR §1.469-9(g) to elect as a real estate professional. This election allows your real estate activities to not be treated as passive, potentially opening up even more deductions. To qualify: 1. More than 50% of your personal services across all trades/businesses must be in real estate. 2. You must perform 750+ hours in real estate activities where you materially participate. This strategy could save you significant money on taxes as you build your portfolio! [NOTE] You should consult a professional regarding this subject matter.

Step 1: Meet the group! We're excited to have you here and can't wait to get to know you better. We all here to grow our investing journey. Please share any (or all) of the following: 1. Your full name 2. Where you're located 3. Any real estate experience you have 4. Why you joined Next Gen Rentals (What do you hope to accomplish from it) 5. What is your real estate investing goal for 2025?