Henry Lazerow
Two warnings for the Chicago market! Section 8 lawsuits and fake tenants ID's
22 January 2025 | 12 replies
We make people take photos of themselves holding their ID and then I also meet them in person for the showing - at least for my units on the NW side of Chicago.I've never heard of these testers, but I am not surprised.
Michael Overall
Utilities and Interest during remodel Basis or year deduction
21 January 2025 | 10 replies
The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.
Michael Plaks
EXPLAINED: How to find a CPA focused on real estate
9 January 2025 | 20 replies
There's a common belief that your tax person should also be an investor themselves.
Cole Dobbs
New Member Introduction
10 January 2025 | 9 replies
I personally know both @Jaclyn Cano and @Wale Lawal and can confidently say both are great and VERY Investor friendly!
Andres Ortiz
Referral for "boots on the ground"?
14 January 2025 | 17 replies
It has worked out for me, but I'm wondering if anyone else has another person they trust that I can float other, similar tasks to?
Michael Plaks
Reminder about TurboTax, H&R Block and avoiding tax professionals
15 January 2025 | 3 replies
The person worked for H&R Block, now works for TurboTax Live and is being honest about their skills: NOT QUALIFIED.
Shiv Jey
Buying distressed LA properties after the fires
15 January 2025 | 1 reply
Personally, I do not like any strategy or approach that aims to benefit from the misfortune of others.
Scott Weston
Highlands Cashiers Market
23 January 2025 | 11 replies
Yea this is a long-term personal play more than a strict STR deal.
Thomas McPherson
How Big of an Impact Will the TSMC Plant Have on Phoenix Real Estate?
22 January 2025 | 2 replies
I am personally very bullish on the Phoenix market.
Alec Barnes
How Do You Ensure Quality Tenants?
9 January 2025 | 12 replies
We take a "whole person" approach.