Lacey A.
Rent to Myself
20 January 2025 | 5 replies
The IRS views this as a related-party transaction, and deductions like rent paid to yourself wouldn’t qualify.
Jimmy Chao
Selling fixer to relative and avoiding seasoning period.
19 January 2025 | 3 replies
And nobody is telling a lie in the transaction.
Kyia Raiford
Newbie eager to learn & find a mentor!
21 January 2025 | 9 replies
There are towns that are not too far where there could be some options for you, but I would start going to real estate investor meetups and pair that with books and podcasts.
Adam Macias
Wholesaling as it is today will be a thing of the past.
12 January 2025 | 8 replies
Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?
Kevin Hoover
Limited partnership to TIC - Can a child get joint property without capitol gains?
1 January 2025 | 4 replies
Approx 5 commercial properties with total combined value book value 12m .. actual maybe 20-25m?
Tyler Walley
Getting Started in Short Term Rentals
30 January 2025 | 7 replies
Marketing & Bookings: Besides Airbnb and Vrbo, what strategies help drive direct bookings?
Caryn Fischer
Tax question with selling a house
22 January 2025 | 4 replies
Be mindful of a gift tax implications if you sell a house for less than FMV.Also be mindful of transactions between related parties when selling at a loss.
Charles Evans
What Paperwork Should I Be Keeping Record Of?
29 January 2025 | 9 replies
This helped our CPA know exactly what transactions related to the house.
Matthew McCarty
Started out, need advice. Already have one property and have 100K in the bank.
28 January 2025 | 6 replies
Without writing a book, google these two terms.Zombie CondoHOA Special AssessmentThen search for news on condos in Florida from this year.
Nico Banuelos
Hello BiggerPockets Community,
9 January 2025 | 2 replies
Congratulations on your impressive success since 2021—that's quite an achievement to have closed over 100 transactions in such a short time.