It's a million-dollar property.

Most professionals will recommend a separate LLC for every $1 million in assets, but I don't think that's necessary.

Hi Muhammad,It's a great idea to compare the markets and this is a million dollar question that I always hear from both sides.

I'm looking to buy a property in N Calif. for 2 million to run as a Airbnb vacation rental.

 $1 million net worth or $200k salary is not “elite” after 43 years of inflationary currency depreciation. 

Been a lot of work and Lot of exposure financially I borrowed about 50 million to pull this off..

There are several myths that we have to debunk before someone truly believes they can do it.You need millions of dollars to do a dealThat it’s too complicated to figure outThat permitting takes yearsIn those communities developments cost way less (think a couple hundred thousand along with a loan from a regional bank), permitting is not difficult (much less red tape), and the towns are small enough that both the city staff and the local architects and engineers and contractors all work with you to help you navigate the process since you’re all invested in making your community better.Note: The big boys can play in the primary & secondary markets.

They paid 3.7 million for this property at 29% occupancy. 

If they gift the land, it falls under the annual gift tax exclusion ($18,000 per recipient in 2024) or the lifetime gift exemption ($13.61 million in 2024).

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.