All Forum Posts by: Jon Fletcher

Does anyone have an example Excel Sheet for a bonus depreciation schedule? Just something simple, for example, $1MM purchase, with 10% allocated to the land value. The remaining $900k split between 5-Year (15%), 7-Year (5%), and 39-Year (80%). It would be helpful to have a spreadsheet to play around with. 

I'm struggling to find a contractor to repair an exterior millwork decorative cornice on a historic property in the Newburgh / Beacon area. Does anyone have any carpenter suggestions or recommendations? 

Thanks @Michael Plaks and @Bernard Reisz. My expensive CPA is under the impression that I qualify as a Real Estate Professional because my W2 job directly involves real estate development (not IT or receptionist, etc.), AND I work many additional hours on my personally owned real estate, AND I use my real estate license constantly. However, I do NOT own 5% of the company from which I earn W2 income and work 40 hours a week. 

Thanks @Michael Plaks. Other than own 5% of the company, I guess the other qualifier would be to spend more than 50% of my time on outside activities, which would be 41 hours per week. It would be difficult (but not impossible) to demonstrate that I'm working 81 hours each week. 

@Ashish Acharya can you qualify as a Real Estate Professional if your full-time W-2 job is working for a real estate development, investment and construction company of which you are not an owner? This is in addition to my real estate investment and management side-business, and my real estate agent business. 

If your full-time W-2 job is working for a real estate investment, development, and construction company, can that count towards your Real Estate Professional Status qualification? 

Hi @Christopher Williams how is your search going?

Further to what @Allan Smith said, don't forget that real estate has excellent tax deferment strategies for house flippers, such as 1031 exchange, etc. Don't drive yourself crazy with tax analysis on profits, just find a CPA. 

There seems to be lots of options out there: SimpliSafe, Google Nest, Yale Assure. It can be overwhelming. The system needs to be appropriate for both STR and long term, and be accessible from an app on my iPhone.

I just purchased a three-family property. The ground floor will be an AirBnB STR, and the upper floors will be year-to-year tenants. Any recommendations on smart systems to avoid or purchase for the building's front door lock?

I'm leaning towards Google Nest for the building's front door and cameras. But would love to hear others' feedback and experience.