Hi everyone, I've been involved in investment real estate and am transitioning into raising capital for real estate funds.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

Find a good real estate agent that is also an investor specialist and they can help you navigate what will get you your best ROI for your situation.  

I am kind of new to real estate investing as I got lucky the first two times but now I am looking to invest quite a bit more money and I am slightly terrified. 

Investing in real estate is a great way to generate passive income and wealth if you are in a position to do so.

I'm a real estate investor in other parts of the country but not NY due to the extremely high buy in price.

.: Its typical for real estate investors to hire a private home/building inspectors to inspect a real estate property before they buy it.

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

Thank you Jay 👋 Do you invest in real estate as well as act as an agent?

I can see an explicit exception in CA Tax Code § 17561 that says you can not use the qualifications in Section 469(c)(7) (Real estate professional) to render that income as non-passive, but I see no callout for 1.469-1T and, as such - as a non-CPA - I do not (yet) see a reason why we cannot follow the same rules for CA that we do for our federal taxes; e.g., if the business is not a "rental" business per tax code, we count that income as non-passive and offset other income (W2, etc) similarly.Does anybody else have some guidance (or opinions) on this matter?