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Updated about 4 years ago on . Most recent reply presented by

User Stats

66
Posts
55
Votes
Reed Meyer
  • Investor
  • Chicago, Il
55
Votes |
66
Posts

Real estate professional status when W-2 is in real estate

Reed Meyer
  • Investor
  • Chicago, Il
Posted

I am curious if I will qualify for real estate professional status once I buy my first rental property. I will satisfy the 750 hour requirement as I will be managing my own property and also working as a real estate agent. My W-2 job will still be my main job and my work selling real estate and operating my rental property will not take up more time than this W-2 job.

However, my W-2 job is in real estate lending at a bank. Will I be able to qualify as a real estate professional because all of my working time is spent in real estate or am I disqualified since I spend the majority of my time in my W-2 job (even though it is related to real estate)?

Thanks a lot.

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