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5 December 2024 | 554 replies
I've lost count.
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20 November 2024 | 28 replies
I do not have concrete proof that all 30 investors in the group were scammed, but the private group’s name is “JBS—BS” and the link was only sent to supposed victims of the situation which is why I believe it to be true.By my count, there are 19 people (including me) in the group who have been actively messaging about negligence, mishandling of funds, fraud, and residual damages they are experiencing from Jeff.
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14 November 2024 | 10 replies
@Aus Smith if there is base rent and then an extra fee the resident pays for a common utility, we count that as revenue towards a percentage-based management fee.
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13 November 2024 | 15 replies
I would most likely use MLS to find a property but for Padsplit I would want to add bedrooms and possibly bathrooms to maximize bedroom count.
14 November 2024 | 13 replies
You are playing with fire with this strategy to start, but then when you count in an inexperienced rehab to rent a year later, I would earmark this for disaster.
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12 November 2024 | 1 reply
If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.
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16 November 2024 | 32 replies
No other contibutions and for sure post count does influence others who relate it to credibility.
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15 November 2024 | 18 replies
So in a few months I think most of my pain points with them will have finally faded and I feel like I can count on them to manage the property professionally and make sure those owner draws are paid out on time.
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12 November 2024 | 6 replies
An escrow holdback does not count towards your 3% max.Depending how far into the process you are, you could consider raising the purchase price and do an escrow holdback if the sellers are willing so that it's net the same to them and you come with very little additional money.
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18 November 2024 | 47 replies
Unfortunately, these are considered “investor hours” and will not count unless Jackson was involved in the day-to-day management.