Don't try to build a buyer's list with no experience and no active under contract.

Since Joe is not a registered lender, Joe is not held to the same standards as a lender and the sale could be a wreckless and poor activity by the bank putting Bob in that situation.

Here’s why and what alternatives might exist:Real Estate Syndication or Fund: Invest in funds that generate passive rental income, which can offset Schedule E losses.Real Estate Professional (REPS): Qualify for REPS to reclassify rental losses as non-passive, allowing them to offset active income.This post does not create a CPA-Client relationship.

Although the Burnt Store areas are seeing somewhat sustainable demand for owner-occupied properties, we're currently still not seeing enough support for activities that would draw tourism into that area.

One key tip as you begin is to connect with local investors who are active in the markets you're considering.

Focus on connecting with investors, flippers, and landlords who are actively buying.

Talk to your tax advisor about how to release your passive activity losses based on your situation.This post does not create a CPA-Client relationship.

Active?

I would do this first before engaging an agent unless you are extremely active.

The process is very involved as you'll have to navigate pre-construction activities that involve architectural plans and approval from the city and then the construction activities (Shovel to soil) take anywhere from 5-9 months depending on how much your building.