Risks and Rewards of Vacation Rentals and Real Estate Investing - 188

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 25 September 2018

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cubert from AbandonedCubicle.com shares his plans for using real estate, including AirBnB and VRBO vacation rentals, on his path to financial independence at the age of 46. Is it worth the risk? Plus, Joe and Big Al answer your questions about real estate investing: will it help you minimize taxes in a high tax state? And how can you avoid capital gains when selling rental property? Transcript & show notes: http://bit.ly/YMYW-188

Transcript

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0:00.0	Let's face it, the last thing you want in retirement is to be forced to go back to work, right?
0:04.7	Learn how to manage the risks that can derail your retirement on the latest episode of the
0:09.1	Your Money, Your Wealth TV show. Watch it online at Your Money Your Wealth.com and check out
0:14.0	our blogs and videos on risk management while you're there. Be sure to subscribe because new
0:17.9	episodes of the Your Money Your Wealth TV show post every Sunday.
0:21.4	Now, today on the Your Money Your Wealth podcast, Kubert from AbandonedCubicle.com, shares
0:26.6	his plans for using real estate, including Airbnb and VRBO vacation rentals, on his
0:31.9	path to financial independence at the age of 46. Is it worth the risk? We'll find out. Plus, the fellas answer your questions
0:38.9	about real estate investing. How can you avoid capital gains when selling rental property? And will
0:43.7	investing in real estate help minimize taxes in a high tax state? Here are Joe Anderson's CFP and
0:49.1	Big Al Clopine CPA to answer that one right now. This is from James.
0:55.0	My wife and I make $900,000 combined.
1:00.0	We live in San Diego and pay a lot of taxes.
1:05.0	Most of our income comes from our salaries and bonuses.
1:10.0	We'd like to minimize the impact of taxes.
1:13.2	What might be some good choices for us to consider?
1:16.8	Tax-exempt bonds won't work in tax-lost harvesting
1:20.1	has a marginal impact on our net income.
1:23.2	Is real estate investing a good idea?
1:25.6	What ideas should we consider?
1:28.3	Well, James, first of all, congrats. 900,000 a year is fantastic. I'm assuming, he says they make. I'm assuming that's salary.
1:36.3	That's what he said, salaries and bonuses.
	...

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