Updated about 11 years ago on . Most recent reply
Game developer and aspiring investor in West L.A.
Hello Bigger Pockets members! I am a video game developer at a studio in Santa Monica. I discovered the B.P. podcast recently and I'm quickly burning through the archives while I am at work. This podcast/community seems exactly like what I've been looking for.
My grandfather, back in my hometown in Vero Beach, Fl., started as an agent, then a contractor, then an apartment building, acquisition, and management company operating in the mid-west for decades. I have been mulling this over for years now, but I really want this to be the year I enter the market as I finally have a little cash to work with. I am unsure what the best route to take is.
I'm sure a lot of you in California and elsewhere can really feel my pain when it comes to being taxed on earned income. There's really no better way it seems, than owning real estate from a tax shelter perspective. My company has done really well this past year, and I have absolutely no deductions as I'm an single renter. I've looked over the balance sheets of my grandad's properties and the accumulated depreciation lines are extremely attractive to me. I am surrounded by young professionals in the same position as I am, and I have a dream of becoming a band of game developing real estate owners who can protect some their wealth.
That said, I know I'm swimming upstream with sharks in this market, but it's where I live and I'm not going anywhere anytime soon.