Hi! - I want to save money on taxes so that I can retire from my W-2 earlier than normal and spend more time with my family and friends. - Right now I have 1.5 STRs (.5 is a hybrid STR/second home) in Virginia - Biggest challenge: having enough time and energy to keep up with my investments Is there a Friday Q&A happening right now? If so I can't get in for some reason...

Hello. Looking forward to finding tax strategies for our three rentals: 2 short term and 1 long term.

1) Why do I want to start saving money on taxes? Whenever I look at my husband’s paystub and see all the tax deductions, it feels like missed opportunity. I know that money could be working harder for our family, and I’m ready to be more proactive and educated about tax strategy. 2) Where am I right now in my journey? We bought our first STR in June, and it’s off to a strong start with solid performance and positive guest feedback. I’ve been planning this move for years, so actually executing has been exhilarating. 3) What’s my #1 challenge right now? Letting go of perfectionism and trusting action over overthinking.

Good afternoon everyone, I’m Mario 🙋🏻‍♂️ 34 year old just out here chasing goals one day at a time. #KnowledgeisPower - Why do I want to start saving money on taxes? For me, It’s taking things to the next level. Learning and gaining more knowledge to then be able to implement to my day to day life, continuing to chase after my goals, and ultimately financial freedom. - Where am I right now in my journey? Currently renting, but I do have and own 1 home since converted into a LTR. Currently in the process of a tenant I’ve had since 08/2024, finishing their last month with me so I’ll be either filing the home again, or possibly converting the home to a possible STR. 🤷🏻‍♂️ We shall see soon! I locked in a 2.75% interest rate on my mortgage loan so I have absolute no rush or interest in paying it off. - What’s my #1 challenge right now? I feel perhaps if I did not have to be so hands on with this current project, finding the tenants, screening them, and getting it filled again would be THE domino that would make things better again and I would be able to refocus my time and energy towards other goals or hobbies I have. But I also do know I need to decide which option may be a better fit for me and the rental home. Hopefully I will determine that in the next few weeks to come.

Why do I want to save $ on taxes? I'm a planner. I like to plan 2-3 steps ahead. Before we finally take action and acquire our first rental property, I want to be sure we have the correct tax strategies in place so that we can scale to numbers 2, 3, and beyond. Our ultimate goal is to regain the freedom we once had - freedom to do what we want and freedom from financial stress. And THIS time around, create long-term wealth for our children and future grandbabies - through REI🥰 Where am I on my REI journey? My husband and I are both physician assistants with no prior RE background. I've been learning about REI through mentorships, courses, podcasts, etc since last March. Ive suffered a severe case of shiny object syndrome - considering every strategy from PML, to fix & flips, etc - till finally landing on MTRs/STRs. From there, my type A personality has kept me stuck in analysis paralysis. I need a plan. I need to get unstuck. I have set a goal for myself of purchasing a property by the end of the first quarter💪 What is my #1 challenge at this current point in time? Because we are in a season of transition (one year before empty nesters🥺), I struggle with which market makes the most sense for us. We plan to relocate to a warmer climate in a couple years and, although I know rentals can be managed long-distance, I prefer to be within at least driving distance. In addition, I struggle with deciding the smartest way to fund our first deal. With cashflow being our immediate goal, I love the pros of a cash purchase. At the same time, I hate the idea of tying up our cash in one property and stunting our portfolio growth. These are just 2 of my "dominoes". Honestly, I may just struggle with the art of decision-marking, in general🤣 But I am hopeful that with some solid expert advice, I will make an informed decision and finally take action. Im so excited to be here and to learn from all of you!❤️