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Updated over 8 years ago,
Don't Look!
BiggerPockets is awesome!
My name is Matthew and I live here in Menifee, California. I am currently 27, and I have been working as a Diagnostic Medical Sonographer (Ultrasound) since I was 20. I reached a plateau in my career, and now I believe building assets with my income is my next step.
I have no background in any type of real estate other than buying my own single family home, so I am a complete newbie. Over the last 6 months, I have been reading books, listening to podcasts, and browsing the forums and guides on BiggerPockets. I have found that vacation rentals are what grab my interest the most with buy and holding being a closed second.
If anyone would be willing to give me advice, I would ask how vacation rentals have worked for anybody else? I have been heavily considering the Big Bear area for reference. Tax implications? I get a 1099 from my current workplace, so I pay quarterlies since income is untaxed. Anybody have experience using vacation renting as a write-off?
Also, I live right next to Sun City (retirement community). Does anyone have good experiences doing a 55+ buy and hold? Is this even accessible to me being 27?
Thank you much!