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26 January 2025 | 11 replies
Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).
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20 January 2025 | 5 replies
No personal income or tax returns are required.
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25 January 2025 | 155 replies
I learned so much from the course and PCS, and I'm claiming all of my cost on my taxes.
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24 January 2025 | 6 replies
As someone mentioned, the only thing passive about real estate investing is the tax treatment.
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20 January 2025 | 3 replies
Quote from @Michael Overall: Good day, If an investor has 10 rentals and wanted to over time sell them and put the money tax free from a 1031 toward a large purchase is there a process to do that?
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22 January 2025 | 7 replies
Just make sure you are saving towards those slow months during the peak months, buy a deal at the right price (don't overpay just because its a turnkey STR or you think it will make more money than projected), and look into ways to increase bookings during those slow months with some marketing and operation tweaks.
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23 January 2025 | 2 replies
Your problem will be them incurring capital gains taxes simply so you can get a commission.
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19 January 2025 | 42 replies
Yes, you will have to file the partnership tax return.
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1 February 2025 | 23 replies
Suggest you pester them with questions to learn the eviction process, so you can save money in the future.
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25 January 2025 | 14 replies
@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success.