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25 October 2024 | 1 reply
Being a licensed agent does have it's benefits when buying.
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31 October 2024 | 24 replies
This way I'm semi-retired working my own hours and enjoying the tax benefits of a RE professional.
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25 October 2024 | 4 replies
Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.
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30 October 2024 | 21 replies
Live where you want and invest where the numbers make the most sense.The benefit of living in NYC is that you hopefully make a nice salary compared to others in the country.This gives you a competitive advantage when you want to buy properties in other parts of the country.If you are investing in NYC, you are not investing for the cash-flow but the potential appreciation.I used to live in NYC(now I am a digital nomad) and I decided to invest in Florida.
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30 October 2024 | 35 replies
Good property management can mitigate some risks and handle tenant issues more effectively.Ultimately, some investors are drawn to these markets because they see the unique long-term benefits as outweighing the challenges.
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24 October 2024 | 12 replies
There's no benefit to starting a PM company just to manage your own investments.
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29 October 2024 | 15 replies
That is the benefit to the landlord, and the disadvantage to a month to month tenant... rent can be changed at any time.
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25 October 2024 | 12 replies
I believe you can benefit from his course(s).
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23 October 2024 | 6 replies
Exclusions.Certain work, such as time spent as an investor reviewing financial statements or participating in management decisions without active involvement, may not count towards the 750-hour requirement.As always, talk to your CPA to make sure that you meet the criteria above.If you do, there are many helpful benefits to you.
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23 October 2024 | 15 replies
How important is it to get with CPA to assist with tax benefits.