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12 March 2024 | 4 replies
.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.
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12 March 2024 | 13 replies
I'd speak with your CPA to confirm whether or not your wife can qualify as a real estate professional because that makes a difference in being able to use your losses from the cost seg study now versus rolling them forward.https://www.aicpa.org/resource...
14 March 2024 | 60 replies
This is a classic case of over analysis.
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13 March 2024 | 37 replies
Perhaps look / study other methods of investing.
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13 March 2024 | 15 replies
Yes sure, but there are great builders and it is irresponsible to make such a statement.The modular duplexes I am going with provide higher quality insulation and finishes and structure than you find in local stick builds.There have been studies showing modulars are sturdier than stick builds, and you can certainly achieve price efficiencies for the reasons stated above.For an investor with a volume goal (such as my 100 units in 3 years goal) in an area with low or expensive inventory or high competition, or for investors in an area with a lot of ongoing construction leading to high labor costs, or somebody that wants to run a strategy that churns money fast then modulars are a great development platform.
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11 March 2024 | 22 replies
First there are the costs for enrolling, purchasing the pre-licensing books, and the exam fees, which can run anywhere from $600-$1,200.The time it takes to study and pass the exam can vary from 6-12 weeks or even longer if you have other commitments.
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11 March 2024 | 3 replies
As a result they’re forever attending seminars, workshops, classes provided by various real estate organizations; they’ve read every book ever written about real estate twice; they believe that they could be worth $1 billion now if only they had chosen real estate as their college major instead of medieval literature; but soon as they study for their real estate license in all 50 states they’ll be ready to begin.The Guru Junkie – I met this person while I was the designated provider of financing for a guru – back about 30 years ago.
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11 March 2024 | 2 replies
Now I haven't studied for the entire 2 years, life tends to catch up and I get pulled away for bits of time, but I always come back to the books and looking up forums and posts from people.
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10 March 2024 | 8 replies
Would a Cost Segregation Study work well for an SFH?
11 March 2024 | 7 replies
Study the market.