Ask Marco - Qualifying for Real Estate Professional Status | PREI 249

Passive Real Estate Investing

Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Education, Business, Entrepreneurship, Business:investing, How To, Investing

4.6 • 968 Ratings

🗓️ 10 June 2020

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's question comes from Kelliane, an attorney turned entrepreneur and wants to know how to qualify for real estate professional status. Download your FREE copy of The Ultimate Guide to Passive Real Estate Investing. IF YOU LIKE THIS PODCAST we would love if you would go to iTunes and Subscribe, Rate & Review our podcast. This will greatly help share our podcast with others wanting to learn. Thank you!

Transcript

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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 friends and welcome to another... Now here's your host, Marco Santorelli.
0:13.4	Hello friends and welcome to another episode of Ask Marco
0:16.2	where I answer your investing related questions.
0:19.1	Today's question comes from Kelly Ann.
0:21.2	And she says, hi Marco, I just recently discovered your podcast
0:24.5	and have been binge listening.
0:25.8	Thanks for the great content.
0:27.8	I am an attorney turned entrepreneur
0:30.1	who recently sold my e-commerce business. My husband is in medical device
0:34.1	sales with a high W-2 income. I am now launching a new consulting business and
0:38.6	podcast. My husband and I are trying to also ramp up our real estate investing business.
0:44.2	After exploring many options, we are most interested in passive real estate investing,
0:48.8	example acquiring turnkey single and multifamily, multifamily syndications, and hard money lending.
0:55.0	We are working diligently to do everything we can to create passive income, minimize taxes,
1:00.2	and achieve financial freedom within the next five to seven years.
1:04.1	Great goal and congratulations on all that.
1:06.8	Because of my husband's high W-2 income, I would love to be able to qualify as a real estate professional to take advantage of the tax benefits.
1:15.2	However, I don't see how this is possible if we were to pursue the passive real estate
1:21.2	investing strategies as mentioned above. Do you have any insight as to how we can get the best of both worlds? Thanks Kelly Ann.
	...

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