The don't quit your job conundrum

[Scott Rudi]

Here's a question? Don't quit your job before you establish your real estate business is the conventional wisdom.... Well, how does that work if your original job income is greater than $150k per year? In other words - losses most regularly occur in the first months of an investment but those losses are not deductible if you meet certain income levels. Any thoughts on whether this conventional wisdom is in fact good advice for people such as have that income? 

[JD Martin]

I think it is still good advice. You are making more in working income than you are losing on tax deductions. I have relatives by marriage that think having the most expensive home they can own is worthwhile because of the interest deduction, but the deduction + appreciation is less than the cost of what they spend on the house, not to mention the opportunity losses by blowing all your money on a massive house.