Short-term rental

That's the best way to do things if you're just getting started, and then once you have a little bit of income coming in, then we can think about going and getting into other asset classes like short-term rentals.

If you're somebody who is maybe a little bit more established in life, is a really high income earner, and you wanna have an appreciating asset that cash flows, but also you're paying a lot in taxes, we can circle back to the short-term rental tax strategy.

I don't like to call it a loophole, loophole.

Like, everybody calls it that, but it really, it's not a loophole.

You can lower your taxable income to 750, so you're only having to pay, you know, you multiply that times your tax bracket, 37%.

So you're saving a bunch of taxes on your active income, which typically i- in the past you would have to have real estate professional status, or your, um, passive income can only offset your other passive income.

With short-term rentals, you use this short-term rental tax strategy.

You don't have to get that real estate professional status, and the passive losses, which is that depreciation we were talking about, offsets your active income.

yeah don't tell everybody you're like okay i'm already crushing it so shut up right don't tell everybody do it yeah But it'll be interesting to watch this.

And I mean, we know that STRs have been the shining star of the hospitality world for a long time.

It's no surprise that the big hospitality brands are going to figure out how to play in that world.

And it doesn't make it good for them.