4.8 • 953 Ratings
🗓️ 22 May 2024
⏱️ 12 minutes
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0:00.0 | Welcome to passive real estate investing, the show where busy people like you learn |
0:05.2 | how to build substantial passive income while creating wealth for the long term. |
0:09.2 | And now here's your host, Marco Santorelli. |
0:12.3 | Hello my friends and welcome to another episode. Now here's your host Marco Santorelli. |
0:12.8 | Hello, my friends and welcome to another episode of Ask Marco |
0:16.1 | on the passive real estate investing show. |
0:18.3 | I'm your host, Marco Santorelli. |
0:20.9 | Remember, if you are a new listener to the show, subscribe. It only takes you three seconds and that |
0:26.7 | way you never miss a weekly episode. And with that, let's get to today's question. So today |
0:32.4 | we have a question from Rob coming in and he's |
0:36.2 | basically wanting to know how to rent his current home, his principal residence, |
0:40.6 | and move into another property. |
0:43.2 | Sounds like a pretty basic question and for the most part it is. |
0:46.6 | But there's a lot of people who don't completely understand how to make that progression |
0:51.6 | where you keep the original home that you live in as a rental property and move forward. |
0:56.6 | So let me just break that down. |
0:58.4 | So Rob writes in, he says, hi Marco, my wife and I want to rent the condo we own when we move out in two years into a larger home. |
1:05.5 | Can you please do a podcast episode centered around the best strategies for this investment style? |
1:11.8 | Example LLC Creation, maintaining our low mortgage rate, |
1:17.0 | how to set up bank accounts, tax strategies, etc. When I listen to your podcast, much of the real estate investing advice |
1:25.0 | centers around investors who are looking to invest in properties that are on the market. |
1:30.0 | Our situation is different because we purchased the home under our names, |
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