Tax Breaks For Real Estate in Big10 and SEC Country

Where's the best place to buy real estate??? I know I know, I'm coming in hot on this monday morning :)

So yeah, pop quick, where's the best place to buy real estate??? Well, like anything (especially with taxes), the answer is "it depends."

Here's what I mean...

Clients will ask us all the time if they should or shouldn't invest in a property. And what we always say is "let's run the numbers" Right, we aren't real estate developers so rarely, probably never, will we tell a client to buy property x. Instead, we tell them, whether the numbers make sense from a tax and long term goal perspective. 

Right, we're the tax guys, so first thing we look at is the tax implications. And then, well, does this property fit your long term goals? For example, earlier this year a client was asking me bout retirement plans and college funds and after a few questions, I stopped and asked if getting a rental property was still the top priority. And his answer was yes.

So for his situation, I told him that while it's great to think about retirement, it's just that funding a retirement account takes cash out of his pocket for that first rental. Right, both pathways are doable, it's just a matter of which one aligns with him. 

And same for you, Drew, we won't make the final decision on your money. It's your money and it's your decision to make. Instead, we want to help you make the most informed decision possible. We'll run the numbers, we'll give you our opinion, we'll make sure you stay on track. At the end of the day, it's your decision because we believe in you, plus the only person who cares about your money as much as you... is you.

Hopefully that makes sense. Here's a clip of JT explaining why we like to recommend Big10 and SEC country (midwest and southeast respectively) as a general area for real estate investing. Usually landlord friendly laws, cheaper land, etc. Here's JT explaining it, https://www.instagram.com/p/CukpEACP80I/