Tuesday Sep 12, 2023
Use short-term rental to OFFSET your W2 income
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In this episode, I bring on guest Karan Narang to discuss the exciting world of short-term rentals.
Karan, known as the "king of short-term rentals," shares his journey of transitioning from a consultant in the pharmaceutical supply chain space to focusing on his investments in short-term rentals.
Together, we delve into the motivation behind investing in real estate, particularly short-term rentals, to save on taxes and create a better work-life balance. Listeners gain insights into the benefits and strategies of this lucrative investment avenue.
KEY POINTS FROM THE EPISODE:
1️⃣ Real estate professional status is generally not an option for immigrants, but short-term rentals offer an alternative avenue for investment and income. 🏡💼
2️⃣ Karan Narang, the guest, shares his personal story of transitioning from a consultant to a full-time short-term rental investor. 🔄💼💼
3️⃣ The motivation behind investing in real estate, particularly short-term rentals, is to save on taxes and maximize income. 💰💼📉💼📉
4️⃣ There is an unfair advantage given to real estate investors by the US government, offering various tax breaks and incentives to business owners in the industry. 💼🏢
5️⃣ Short-term rentals became Karan's niche as it provided a loophole for tax savings, especially for those who can't quit their W-2 jobs to pursue other types of real estate investments. 🏢💼🔀
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