All Forum Posts by: Sophia Oberlander

Hi all-

my mom wants to dedicate her time to real estate full time. 

Came across the real estate professional status which could help her in convincing her to let go of her w2 (with tax savings).

Here is her current situation, if you can help me understand a bit more. 

- both husband and her have w2s, she would quit her job to focus on RE full time. 
- they have 3 local and 3 out of state long term rentals.

- the 3 local need a lot of work, she has been cutting rent due to not having updated flooring, appliances, etc. I could definitely see her spending majority of her time here. 

Question: their current house they want to get ready to rent out. Does any of the time preparing the house for rental qualify or do they have to list it first and then do the work. Confused by some of the language online. 

appreciate it!

Hi @Caroline Gerardo- is this something your company does. Are the rates similar to what was posted? Would love to discuss more after the holiday  

hi all- any banks or lenders you know doing heloc on rental properties? I saw this post from a fellow bigger pockets follower and wondering if anyone else knows where I can access (outside of Hawaii)

Hi all- I’m a W-2er and an investor but finding it extremely difficult to find someone to do taxes that knows the benefit of rental properties and help to make planning decisions to maximize return. I do a lot of behind the scenes management and remodeling and I’ve been told by past accountants to not take certain deductions ( to get flagged) which is unfortunate because I want to. Anyone can recommend tax professional that is forward thinking and helps people in my situation. 

I plan on selling a condo in San Diego and doing a 1031 exchange (planning in the next 4-6 months). I am looking at single family (option with turn key) and multi family. The question is what and where. With the interest rate the way it is I can’t make the numbers work even with 25% down.