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6 August 2024 | 38 replies
If you're interested in the MTR strategy, I invite you to participate in THE MTR Connect.
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6 August 2024 | 49 replies
The participants that join our program understand that.
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4 August 2024 | 13 replies
Additionally, there is other rules like residency rules that may exclude you from participating in ACT 60.
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3 August 2024 | 16 replies
Under the IRS rules, a person qualifies as a real estate professional if: (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or businesses in which the taxpayer materially participates, AND.....(2) hours spent providing personal services in real property trades or businesses in which the taxpayer materially participates total more than 750 during the tax year.Like @Greg Scott and @Russell Brazil mentioned above, I don't believe that you would qualify as a REPS, but if you are going to try it, make sure you document it very well (i.e. with some kind of proof, like time cards, mileage forms, and/or receipts, etc.) so that just in case you do get audited, you at least have something to provide to the IRS agent.
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3 August 2024 | 17 replies
Hope your "far away from other rental" units are close to some commercial.City or County housing authority keeps participating landlords on file and are usually happy to refer folks.
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5 August 2024 | 21 replies
Here’s why it might be a smart move:Maximize ROI: With leverage, you can control a larger asset value with a smaller initial investment, potentially increasing your returns as the property appreciates.Preserve Liquidity: Keep your cash available for other investments or emergencies while still participating in lucrative real estate opportunities.Tax Benefits: Deductible mortgage interest and expenses can lower your taxable income, enhancing profitability compared to an all-cash purchase.If you have the means to buy with cash initially, you can later refinance to unlock equity for further investments or improvements.
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3 August 2024 | 10 replies
The monthly payment isn't going to get bigger, all kinds of crazy taxes to get out of the real estate eroding the payments you do receive every year and no opportunity to participate in appreciation.
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6 August 2024 | 54 replies
Quality and a flight to primo will remain the common theme in the solvent participants.
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1 August 2024 | 29 replies
Make connections with people by participating on the BP forums, going to meetups (@Andrew Freed has a great one in Worcester and I run one in Boston).
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1 August 2024 | 13 replies
You eliminate the STR loophole which allows adjusted material participation qualifications