Generating 30k/month income with active owned real estate is another job. 

I have owned an income property in the past, but looking to really get in the game in 2021.

Experience has shown that it is a rare situation where the hard numbers, the underwriting, and the projected income stream support that added cash distribution to self in this market.

I don't see the prices dropping, especially once minimum wage goes from $9 per hour to $15 per hour = more disposable income = higher rents. 

Either way we'd be over the income limit together.Is what we want to do possible?

For those who are high-income earners, we don't need extra income to be taxed at a high rate, and would rather build equity quickly.

My motivation to invest in property is to generate passive income. 

Obviously I have a ton of equity in the property, which i’ve been thinking about as using as a large down payment on a portfolio of properties or a larger property/ something that produces more income.

But my understanding is that's not the case with a property refinance (again, unless in excess of basis [in which case, taxed as gain], or unless your lender forgives the loan [in which case, taxed as income]). 

Prior to Pacaso, my friends and I had an idea to purchase a vacation home as a passive income vehicle.Curious to hear everyone’s thoughts on group/co-ownership for real estate?