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17 January 2025 | 3 replies
I am not an expert here but my thought is that you would learn a lot by getting your license and have more credibility in the industry at large so if your time and finances allow- get that license:)
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18 January 2025 | 36 replies
That's a terrible idea.He should either install a smart thermostat that allows him to set limits, or he should remove her from the property.
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15 January 2025 | 4 replies
It ends when they AND their stuff is removed to the level that allows you to begin the re-rental process.
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23 January 2025 | 3 replies
The agent either doesn't know or isn't allowed to say because of fiduciary responsibility.
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12 January 2025 | 28 replies
I have been able to review or been told of several audits (from other REI tax colleagues) related to cost segs in the last year or so- and of those none of DIY cost segs were allowed under audit.
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21 January 2025 | 2 replies
For RE owners, death allows you to pass assets to your heirs and step up in basis, effectively eliminating recapture.
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4 February 2025 | 11 replies
Leverage & Portfolio GrowthInvesting in a solid multi-unit property allows you to leverage your capital into an appreciating asset that generates cash flow.
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14 January 2025 | 15 replies
This is a self directed RRSP or TFSA account that allows you to lend your money out to people with the backing of their mortgage for a high interest rate. 1st, 2nd, 3rd mortgages, down payments, refinances, flipping or renovation money.
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31 January 2025 | 11 replies
Depreciation allows you to offset rental income over 27.5 years.
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4 February 2025 | 9 replies
If transferring the property to an LLC, be mindful of the due-on-sale clause, and note that an LLC itself does not offer tax savings unless electing S-Corp status, which is rare for rentals.To maximize tax benefits, consider cost segregation, bonus depreciation, and short-term rental (STR) strategies, which could allow you to offset W-2 income if structured properly.