Seattle, WA 路 Member since 2016 路 81 posts 路 43 votes
Hi Everyone!
what are you all up to? living the dream?? 馃槂 I hope so, if not, I'd love try and help you get there, I myself am in pursuit of that dream! I plan on investing in the Seattle, Washington and surrounding areas and maybe expanding to different markets in the future. I'm new to BP but that doesn't mean I can't offer my support and friendship if it leads to that. As we all continue to learn, grow and build a network we can then help each other in different ways. I don't believe you should rule someone out just because they are new to something, they could very well become an absolute genius!
Investor 路 Lake Forest Park, WA 路 Member since 2015 路 108 posts 路 35 votes
10y
@Cassie Sherie Yes, like other BP members I am just trying to help by imparting things that will affect your strategy, not knowing if you've already taken them into account or not, but glad that you have. Indeed, different strategies work best for different people - no question there. And no, taxes are not the determining factor of building wealth, just a major consideration that successful folks typically put careful thought and effort, and in some cases expense, into minimizing to preserve what they've earned so far.
And when these multi-millionaires you're referring to are bringing in many times what they pay in taxes and are left still left with great ROI, then it makes sense to keep doing so and pay the tax to do so.
But we're not at the multi-millionaire lifestyle point yet. Having benefited from tax breaks from holding property myself and following related discussions and podcasts here on BP, I just keep hearing of people who wished they had known first.
Was not looking to start an argument or debate, and since you've got these topics accounted for, I'm looking forward to hearing of your success!
Seattle, WA 路 Member since 2016 路 81 posts 路 43 votes
10y
@Charles Moore thanks for the reply, I get. Hopefully you will implement what you have learned and not just continue to talk about it for years, and take action yourself with your personal goals. I also plan on having multiple income streams outside of real estate, that have to do with other personal interests...Good Luck to you!