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Anyone here ever been to RCA? Is it worth it ?
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Anyone here ever been to RCA? Is it worth it ?
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Yes, it sucks. That's over 14 hours a week or 2 hours a day (every day).
But I thought you can count travel time in that. So a cross-country flight would be 6 hours + the time it takes to check-in and go through security (2 hours). Maybe 10 hours total?
Then there's calls to tenants and maintenance companies to set things up.
Does research or learning time count? Let's say I go to a real estate workshop or I buy a book and spend time reading it. If that's allowed, then I easily spend most of my weekend reading up on real estate laws, news, and market research.
Have you looked at cost segregation study, bonus depreciation. It’s a short term rental strategy to offset w2 income. Look into and see if it works for your scenario. It basically delays taxes paid, but if you offset the capital gains at a later date it might help. I haven’t used the strategy, but I was considering writing some software that will guide someone through a simple cost segregation study. I got a little nervous when I started thinking about liability if someone uses it and I have a bug in the logic.
Just write it off and if you get audited be ready to show what you do on a day to day. You’re looking for deals, traveling, maintenance, picking up rents, renovations.
You can get 14 hours a week of your mental energy.