I'm a solid $400k/yr job in NYC and have $250k to begin investing as my first step into building a portfolio, although I don't have time to be a landlord so I have to account for management fees.  My endgame is to end...

Hello everyone, my name is Max. I’m here to connect with like-minded individuals, gain insights from others, and contribute value wherever I can in the real estate field. Excited to learn and grow together.

You can also write off expenses such as property management, insurance, repairs, etc.

I was also considering the REI expo in February so maybe I'll see you there.You're a self-proclaimed novice but I think many other members of the community would agree that you're well on your way given your potential cashflowing rental and equity.You seem to have a strong position which would allow you to keep growing your portfolio in the next few years.I'd recommend diversifying your RE portfolio the same way you're diversifying with other investments (REITs, Stocks, bonds etc.).

. :-)I agree though - get them involved in a real way (having them help write/advise/ formulate the goals) this will get into their heads faster than just plain talk.I would add this: maybe for the second 'meeting', go on a Field Trip!

There is a lot to say here that would take awhile to write but a few things:  1. 

On a 2M property you should be able to write off roughly 300-400k, so that would cut your real estate income down for years, but not your W2, because I don't think you would be able to claim RE professional status. 750 hrs and min 50% of your time.

Someone with $10M in the bank in cash just needs to put a lot of money to work and time value and tax write off is more interesting to them than a hungry investor in their 20s that has never found a deal.Honestly, books are great, but they are about as "boiler plate" as you can get as I'm sure you're discovering.

the only thing with that is protecting future landlords.. but then again thats a personal choice..  

🔄 The Side-Hustle Timeline: How to Build Your RE Business While Working 9-5Ever feel like your W2 job is holding back your real estate dreams?