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14 September 2024 | 9 replies
Savings rates through high yield savings accounts and CDs are almost at 5% (maybe 4% now) but they'll much more passive than real estate.
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16 September 2024 | 7 replies
Would seller concessions benefit the seller in the form of capital gains reduction especially on flips?
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15 September 2024 | 2 replies
You cannot (legally) exclude your capital gain when you sell your NJ house next year.
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16 September 2024 | 4 replies
The purchase was $375,000 and the rest was used for renovations.My cost bases in the building will be around $740,000.I refinanced the building with a $900,000 loan.I have an offer on the building of $1,400,000Total capital gains would be about $660,000So, my question is after selling the property (for easy math) lets say I walk away with $500,000 after paying off the bank loan.
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17 September 2024 | 17 replies
I would wait until that PPP lowers in a year or two then see if you actually get a substantial gain in savings.
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12 September 2024 | 10 replies
Are individual (for each rental property) passive losses not allowed to be sum up together to offset capital gain of the sale of one of the properties?
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15 September 2024 | 6 replies
My preferences are passive RE investments; whether through Debt, LP Equity stakes, etc.
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16 September 2024 | 40 replies
As you gain momentum, you'll realize that each of these tasks are full-time commitments and that they'll quickly become more than any one person can handle.
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15 September 2024 | 11 replies
The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.
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17 September 2024 | 6 replies
So I have gained so much from just participating at a fairly low level for a few years, but the people I've met and things I've learned have proved invaluable.