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Updated 3 days ago on . Most recent reply
Is REI worth it (salaried employee who is thinking about REP status for taxes)
Prefacing this with stating that I am a newbie to REI.
I’m a physician and earn a decent salary but need to find additional ways to build wealth to fund my kids future college funds, go part time eventually, etc.
My spouse is a stay home dad and interested in managing rental properties so I can get the tax write offs from my W2 income (through his potential REP status). I’ve started researching rental acquisitions and am learning that real estate investing is a slow, seemingly hard and long road to financial freedom.
Is it even worth pursuing this path, or should I focus on other ways to build wealth (eg look into small business acquisition)? I feel more limited in exploring other options given I work full time.
Humbly, thank you for the insight.
Most Popular Reply
Acquiring a small business is a job and there is some work involved.
What type of small business are you looking to acquire? Do you or your husband have the expertise and time to devote to this business?
I like the path of acquiring real estate and having your spouse claim REPS status.
But this only applies if you acquire real estate as good investments and the tax refunds through REPS is icing on the cake.
best of luck!
- Basit Siddiqi
- [email protected]
- 917-280-8544
