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24 September 2024 | 4 replies
Yes, to qualify as a real estate professional, either spouse must meet the 750-hour requirement of material participation, where more than half of their personal time/services must be devoted to real estate activities.If your spouse works another part-time or full-time job, it may be difficult to demonstrate that more than half of her working hours are focused on the real estate business.If not, you should qualify as you exceed the 750-hour threshold of material participation.As always, it's a good idea to consult with your CPA to ensure you meet the requirements and can take full advantage of the RE Pro status and the deductions available.
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27 September 2024 | 47 replies
If not there are reliable companies out there that can help.
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22 September 2024 | 5 replies
Previous landlords and personal references not reliable most of the time for the information you are looking for.
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24 September 2024 | 11 replies
This setup will lead to higher tax prep fees and if you refinance these properties the IRS will consider this selling the property and you will have pay taxes at the end of the year on a property you didn't actually sell.I recommend finding an accountant who specializes in real estate taxation and tax planning and set up a paid consultation before you do anything.
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22 September 2024 | 2 replies
Looking for some opinions....I have forwarded this to my attorney as well so I am just looking for opinions from those experienced in private money transactions, I know that I should consult an attorney.I own land that I am trying to build out a brewery on in NH.
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24 September 2024 | 12 replies
If this does not fit your specific needs, I recommend just buying Salesforce off the shelf, paying less per month, and hiring a consultant to build it to your exact specifications for a fraction of the cost.
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23 September 2024 | 15 replies
It could be possible but consulting a real estate professional could help.
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23 September 2024 | 19 replies
Always consult your own tax professional.Starting concept: net incomeBusiness are taxed on net income, not gross income.
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22 September 2024 | 13 replies
And I think they can, should and will continue to work on taking care of Hosts and focus on the Guest experience.My 2 cents,Mike---10 year Airbnb Host with only 5 Star reviews---3 year "Airbnb SuperHost Ambassador" (consultant) with over 650 new Hosts launched under my tutoring.
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25 September 2024 | 37 replies
It is important to keep in mind that DSCR is just one factor that lenders consider when evaluating a loan application, and other factors such as property condition, location, and market conditions also play a role.It is also a good idea to consult with a financial advisor or loan officer to get a better understanding of the loan requirements and to get an idea of how your investment property will be evaluated by lenders.Feel free to reach out if you need more feedback, happy to help.