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23 April 2024 | 2 replies
Would you trade a property that makes $600 of cash flow a month that has $100,000 of equity For two properties that each have $100,000 of equity but that make zero cash flow?
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25 April 2024 | 1 reply
Gen Z may be leading a revival in the trades. 1) In an aging population, the median age of electricians, mechanics, and plumbers is falling. 2) Vocational school enrollment is growing faster than at 4-year colleges.More young folks are considering the trades as a career.
25 April 2024 | 0 replies
The IRS cross-references your 1098s with claimed deductions, raising concerns if discrepancies arise.Private Lenders and Forms 1098: Private lenders are required to send Forms 1098, but only if they meet specific criteria:The private lender operates as a “trade or business,” distinguishing professional lenders from casual lenders like friends or family members.The loan is issued to an individual or a disregarded single-member LLC.The loan is a mortgage secured by real property.The annual interest paid on the mortgage was $600 or more for the previous year.The conditions leave some room for interpretation, particularly regarding the “trade or business” clause.
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26 April 2024 | 25 replies
Another teacher I know trades stocks on the side and does well with that.
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26 April 2024 | 8 replies
I want a specialist that's an expert, and not a jack of all trades and master of none.
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26 April 2024 | 11 replies
I'm an electrical engineer by trade, so I think I've got a good handle on the technical content, but the wording and legal may need help.
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24 April 2024 | 4 replies
I often do site visits to the property and then design/draw the hvac/plumbing systems for the building.From what I gather below the following would all fall under "real property trades":"The statute lists 11 types of real property trades or businesses: real property development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, "I believe that my line of work can be classified under "real property development", "construction", "conversion".
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25 April 2024 | 7 replies
Don't limit yourself to targeting 8 units, as @Robert Rixer said focus on the numbers of the deal, and make sure you are comfortable with the risk/reward trade off.
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26 April 2024 | 21 replies
I regret almost every property I have sold early on, except the ones in rougher areas - I am glad I traded up.Your next move should be a house hack with 5% down.
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27 April 2024 | 42 replies
I likely will take only speculate in these areas to trade the equity and consolidate out.