The Real Estate Professional Status Unlocking Wealth Through Real Estate - Sarah Ward
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Nov 22, 2023 Join Sarah Ward, a seasoned real estate agent and investor from San Diego, as she shares her journey from buying her first duplex at 24 to building a successful investment portfolio. She discusses powerful strategies for first-time buyers like house hacking and highlights the importance of distinguishing between cash flow and appreciation. Sarah also explains the benefits of Real Estate Professional Status, including tax advantages for high-income earners, making this a must-listen for anyone looking to create wealth through smart real estate investments.
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Subtle Investment Guidance
- Sprinkle investment advice gently when working with first-time homebuyers, considering their goals and avoiding being overbearing.
- Discuss options like house hacking, buying multi-unit properties, and renting out rooms or units to offset costs.
San Diego Real Estate Market
- San Diego is an appreciation market, not a cash flow market, so focus on properties in good neighborhoods that will increase in value.
- Educate clients about zip code appreciation trends to inform their location choices.
First Duplex Purchase
- Sarah bought her first duplex at 24 with her fiancé, house hacking by living in one unit and renting the other.
- After renovations and leveraging San Diego's appreciation market, their living costs were around $1700/month.