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14 January 2025 | 11 replies
@Christopher J Driscoll did offer some great insight from his experience with ADU's as an architect and property owner.
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15 January 2025 | 5 replies
Even then, the IRS may scrutinize the transaction if it appears the intent was to immediately convert the property into a personal residence.Additionally, if you eventually sell the property after converting it to a primary residence, you may qualify for partial benefits under the Section 121 exclusion for primary residence gains.
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12 January 2025 | 20 replies
By the time they research and go down all the rabbit holes of different strategies, never sticking to one in order to gain traction, they get exhausted, throw their hands up and never take any real substantive action.Pick something and go with it, all the way to its conclusion.
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16 January 2025 | 3 replies
.## Additional Resources- Check out the BiggerPockets podcasts and webinars for more insights on these strategies.- Read books like "What Every Real Estate Investor Needs to Know About Cash Flow" by Frank Gallinelli to deepen your understanding of real estate investing.- Use local real estate agents who are familiar with investment properties to help you find the right deals.You're taking the right steps by seeking knowledge and networking.
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9 January 2025 | 32 replies
This benefit allows the owner’s estate or heirs to receive the property at a new, higher basis—reducing capital gains taxes if they choose to sell the property after inheriting it.In short, partial disposition allows tax deductions for retired property components during ownership, while the death step-up basis resets the property’s depreciated value, providing tax relief for heirs.
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11 January 2025 | 67 replies
Start with one property to gain confidence before scaling.
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18 January 2025 | 19 replies
Any insights or advice on these topics would be greatly appreciated.
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9 January 2025 | 4 replies
Quote from @Jay Fayz: Hello everyone,I've recently been exploring real estate as a potential career path and I'm looking for advice on the best entry-level job to gain experience and knowledge.
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30 January 2025 | 32 replies
They do local meetups but you can at least gain access to true off market properties as apposed to using wholesalers.
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13 January 2025 | 9 replies
Connect with experienced investors, real estate agents, and financial advisors who can provide valuable insights and guidance.