25 November 2024 | 14 replies
Ask him my hard questions, and count on his expertise.
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19 November 2024 | 0 replies
Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.
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20 November 2024 | 10 replies
(if you are a licensed GC or RE agent, this also can be counted towards experience)
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2 December 2024 | 34 replies
You can count on that as fact.
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18 November 2024 | 4 replies
I know there are some PMS lite solutions out there made for low unit count portfolios but honestly I used ical and excel until about 15 units.
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25 November 2024 | 19 replies
Two things I would encourage you to ask yourself & ponder (essentially count the cost): 1.
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19 November 2024 | 5 replies
They also have a 'turn key' annuity asset that they can count on for consistent retirement income.
15 November 2024 | 4 replies
Here’s the quick-and-dirty lowdown to get you started:1️⃣ Where to Look:LoopNet & Crexi: Good for commercial deals, though the best ones go fast.MLS (Multiple Listing Service): Access through a realtor for hidden gems.Auction Sites: Think Auction.com or HUD homes for distressed properties.Direct Mail Campaigns: Target landlords with older properties (especially those with code violations).2️⃣ Systems for Finding Deals (Step-by-Step):Set Your Criteria: Market, budget, unit count, rehab level.Build a Deal Funnel: Use LoopNet, Crexi, wholesalers, auctions, and brokers.Analyze Quickly: Use a property calculator to see if it cash flows.Direct Outreach: Contact sellers or property managers directly.Get Your Network Tight: Property managers, realtors, contractors—they’ll drop the best leads.3️⃣ What Makes a Good Deal:Cash Flow Positive from Day 1.Below Market Value (usually needs rehab).Upside Potential: Think rent increases, better management, or refinancing options.4️⃣ How to Become the Better/Best:Study the Market Like a Hawk.
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18 November 2024 | 12 replies
If you're in a very precarious spot I'd be 100% fixed income and then depending on risk appetite & unit count down to 30% fixed income.