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Updated almost 3 years ago on . Most recent reply

User Stats

128
Posts
21
Votes
Patrick Q.
  • Investor
  • Jersey City
21
Votes |
128
Posts

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.

  • Patrick Q.
  • Most Popular Reply

    User Stats

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    14,946
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    John Underwood
    #1 Short-Term & Vacation Rental Discussions Contributor
    • Investor
    • Greer, SC
    14,946
    Votes |
    12,332
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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
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