Bhakti Patel
Hello BiggerPockets Community!
29 November 2024 | 11 replies
When you are new as an investor, you also don't want to work with a new agent (you).Overall, I think a RE license is good for access (to homes to get reps and to the MLS) and I think the course itself is way more valuable for investors than agents (most just stay in residential and don't need to use all the weird stuff you learn).
Jose Laffitte
Fix and Flip funding
26 November 2024 | 14 replies
My customer service rep is a flipper and I love that because he knows why I want to do what I want to do and can discuss the approaches with knowledge.So far, the experience has been positive.
Brody Veilleux
Loss Harvesting in Real Estate
26 November 2024 | 5 replies
Depreciation can create paper losses to offset rental income or passive income, and qualifying as a Real Estate Professional (REPS) or STR loophole can allow losses to offset W-2 income.This post does not create a CPA-Client relationship.
Taylor Robertson
Found off market deal with working with realtor. How to proceed?
25 November 2024 | 4 replies
Check your buyer rep agreement for how that's arranged.
Anish Koshy
New and exploring Syndications
25 November 2024 | 12 replies
I am looking forward to exploring these sites and getting my reps in analyzing them.
Melanie Baldridge
One of the best strategies?
26 November 2024 | 4 replies
However, only those classified as "real estate professionals" (REPs) benefit fully from these deductions, which are usually limited to those who spend more than 750 hours per year or half of their work time in real estate.
James Kerson
Tell Me Why My Discount Brokerage Idea Is Bad: Calling All Agents
10 December 2024 | 100 replies
Listing agents would not drive their own pipelines; they would be advisors, high-quality customer service reps assigned to clients.
Joe S.
Off market deals! It’s easy find yourself some off market deals!
26 November 2024 | 44 replies
Because first and foremost it requires you getting INVOLVED, putting in some rep's, and if you won't get involved and won't put in the rep's you will never, I repeat you will NEVER succeed in investment real estate or any business venture EVER, full-stop.
Mitch Holmes
Bag of cash but no W2
27 November 2024 | 10 replies
You also qualify as REPS, so your flipping income could be tax-free if you really strategize well.
Julio Gonzalez
Real Estate Professional Status
19 November 2024 | 0 replies
Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.