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132
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Patrick Q.
  • Investor
  • Jersey City
21
Votes |
132
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Real Estate Professional Status (REPS)-Jobs That Count Towards

Patrick Q.
  • Investor
  • Jersey City
Posted

Hello guys,

Considering making moves to achieve REPS.

I have read the rules quoted from the IRS sites that come up on almost every internet post I have found relating to this subject.

Having trouble figuring out how REPS could be achieved given my specific circumstances.

I have a construction management background.

Question#1:

Does anybody have any have any suggestions of W-2/salary type jobs I could take and have those hours count towards eligibility?

Notes:

I would rather not become a realtor.

Looking for something that I could do where my construction management background could provide value and command a decent/good salary.

Perhaps in the construction division of a property management company or something like that.

Question#2:

Once I find something that would work to achieve the status, can it be a W-2 job for somebody else?

Notes:

The work would not be in my own business. I would be an employee working on stuff that counts towards the desired status.

Separate note: I have one rental property that I self-manage every aspect of and plan to add more over time.

Most Popular Reply

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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
16,868
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13,525
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

The problem is that any W2 job working for someone else cuts down on being able to make the minimum hours required for your business.

  • John Underwood
  • Loading replies...