$2,000,000 Tax Burden at age 26! Please help!

[Parth Patel]

Hi all,

I’m currently in a situation where I’ve got a Tax Burden of approximately $2 million.

I need to reduce this with real estate investments before the end of the year. What can I do?

I’ve been trying to develop a game plan before going to my CPA & financial advisor next week. I have family who is significantly involved in real estate, but I’d like to get some other points of view before diving in.

I had an idea where I could bid on foreclosed homes and then rehab significantly to trim away from my massive tax burden. Is this a viable option?

I’ve always wanted to invest in real estate but have absolutely no experience in it.

What are your thoughts? What would you do if you were in a similar situation?

Some important information:

I’ve got $3,500,000 in cash.

I’ve set aside $2,000,000 for my estimated tax burden. I’ve calculated the tax correctly.

I’m 26 years old

I have $0 debt

I have no financial obligations at all.

Thank you!

[Theresa Harris]

If those numbers are correct, I would talk to your CPA rather than asking strangers on the internet who don't have all of the information.