Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Here is a newly created resource on BiggerPockets, which touches out cost segregation, accelerated depreciation, bonus depreciation, depreciation recapture, Real Estate Professional Status (REPS), STR Loophole / STR Strategy, example properties, and more.Cost Segregation 101 Author: Sean GrahamHappy to answer questions :)

It’s great to see a fellow professional diving into the investment side of real estate—it’s such a rewarding journey.

Alternatively, explore a self-directed IRA to invest directly in real estate without triggering taxes or penalties.

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

Whether it’s sharing ideas, insights, or exploring opportunities, I’m all about building relationships with like-minded investors.Looking forward to contributing and learning from this incredible community.Best,James That’s impressive what you’re doing.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Are you exploring a conventional loan or a loan specifically designed for rentals?

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.