New in Real estate Investing

[Dante Jones]

Hello, I'm a new real estate investor trying to figure out where to start I know for me I'm interested in holding long term residential rentals for cash flow and eventually replacing my income. I would love any advice on where you would start if in my shoes! 

Also being new to biggerpockets I'd love to connect and share more about my goals and gain advice from experienced investors!

[Ashish Acharya]

Hey Dante, welcome to BP and welcome to real estate investing! Long-term rentals for cash flow with the goal of replacing your income is one of the most proven paths in this space and you're starting with the right mindset.

One thing most newer investors don't think about early enough is the tax side, and honestly it's one of the biggest advantages long-term rentals offer that most people completely overlook. Beyond the cash flow, rental properties give you depreciation deductions that can offset your rental income and sometimes more depending on your overall tax picture. As your portfolio grows there are also strategies around passive loss rules, cost segregation, and entity structure that can significantly reduce your tax bill and free up more cash to reinvest into the next property faster.

I also agree with Brian, starting small with house hack is the best way to get your feet wet. This is a great way to learn about real estate investing and the tax benefits that also come with it. 

The investors who scale quickly aren't just finding good deals, they're keeping more of what they earn by having the right tax strategy in place from the beginning. Getting a CPA who specializes in real estate involved early, even before your first purchase, can make a meaningful difference in how fast you get to income replacement. Happy to connect!