
5 November 2024 | 28 replies
@George Bell my LLC's do two main things:1) Hide my identity, so tenants can't easily find me. 2) Separate my business and personal assets, income & expenses, not so much for tax purposes, but to avoid IRS issues.-- Just audited by IRS this summer for first time ever and had no issues!

8 November 2024 | 31 replies
Other have mentioned this but you can rent out your home for something above market - that would be between you and the operator and whatever makes sense for both of you.Would be happy to hop on the phone and chat more about it and answer any questions you might have!

5 November 2024 | 28 replies
This can be a game-changer, especially in neighborhoods like the South Loop or near revitalizing areas like Pilsen, where property values are expected to rise.Improvement Exchanges: Recent IRS rulings allow you to use exchange proceeds to make improvements on a replacement property while still qualifying for 1031 deferral benefits.

4 November 2024 | 14 replies
Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

6 November 2024 | 26 replies
IIRC, Zillow was just flipping homes similar to opendoor and other ibuyers.While Flock is actually implementing the IRS 721 section directly - Exchange your rental property into a (UP)REIT .This bypasses the whole DST to REIT transition since Flock purchases the property and puts it in their one REIT.

1 November 2024 | 22 replies
Here's the link to the IRS topic that John was referring to.

1 November 2024 | 48 replies
The IRS' Chief Counsel recently published a document clarifying this.

2 November 2024 | 11 replies
As others suggested, I would recommend house hacking (roommates) or house hopping (buying a new primary residence then living in it for a few years, then moving).

1 November 2024 | 18 replies
In short, getting the place restored was akin to remediating damage from a natural disaster.In the trash and belongings abandoned by the tenant, he also left the OM for his healthcare real estate endeavor, nasty-grams from the IRS about his personal taxes, and collections letters from several creditors after him.I got burned here and so did my property manager.

31 October 2024 | 11 replies
This refers to IRS Code Section 280A which allows up to 14 days of rental income without paying at taxes.