Everyone is making this into a bigger deal than it is. 1m sf & 25k jobs is a drop in the bucket for NYC.

I’m new to bigger pockets and I’m eager to get your thoughts.

Real Estate income is considered passive and losses will only be able to offset passive income.

For example, the tax savings on a four plex that is only renting 3 units would be higher than average because it would look like I am taking large losses from the unit, when the losses are offset by savings from rent in another location. 

Do a couple of deals with normal timing, pay the lender back, then share the bank owned scenario with them, they might want to partner with you.And in the 17 years of doing business, I have never had a private lender ask for a credit report, an appraisal or an inspection, they did, however, want to see before and after photos and profit and loss sheets of deals I have done (a few of them anyway) Once you build up a reputation of doing deals and using private money, you can get funding fairly easily for regular closings and build a track record with those lenders and they might fund instantly at the courthouse steps

The BP meetup that is a big bigger there is an event page - I will tag you in the comments for that

@Juliet KakeetoWelcome to Bigger Pockets.

A couple of days ago my wife played me a section of a Bigger Pockets video on the topic of BURR.

@Bruce ChangWelcome to Bigger Pockets.

So not only are you getting bigger deals you can do infinite deals.