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13 September 2024 | 8 replies
That, a few podcasts, a few select books, and a couple of subscriptions choke full of info material (less than 100$/month), maybe a couple mentorship programs (for less than 2K/year), and a lot of action on your part and you'll be a lot better than paying $$K for "gurus".To rephrase, do you have more money than you know what to do with or an urgent need to get it to work for you, together with a lot of time on your hands ready to take massive action?
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12 September 2024 | 10 replies
I believe my wife and I pass all the test under REPS and material participation.
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16 September 2024 | 43 replies
I mean material as recently as late 2022 was totally off-base-- the real estate rookie bootcamp, you had porfer Morby on here, the Carl twins that promote STR as recession proof, the list goes on.
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13 September 2024 | 4 replies
I'm also open to suggestions on other (post covid hopefully) reading material, podcasts and resources.
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14 September 2024 | 23 replies
Materials won’t be that much a couple hundred maybe.
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13 September 2024 | 8 replies
Her work in this way again is not influenced at all by if it is an LLC in her name, your name, or both - it is based on actual hours worked.IF and AFTER you meet the above tests, you need to prove that you materially participate in your RENTAL trades or businesses, generally this is at least 500 hours per year, but there are other tests as well.If you qualify for all of the above, now you can use tax losses from rental real estate to offset W-2 income.
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12 September 2024 | 9 replies
You need to get a quote from a local handyman or contractor.Not sure about every state, but in the states where I invest - If you do the work yourself you can only deduct the cost of materials.
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20 September 2024 | 114 replies
If you're passing along cleaning fees to the guests, then they shouldn't have such a material impact on your profits.I'm speaking from experience a little bit.
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11 September 2024 | 12 replies
I’m a real estate pro so material participation isn’t an issue, but the majority of my clients are in the $300k-$900k/yr gross household income range and so using STRs is not only the best way to get great ROI on real estate nowadays but the tax benefits are the primary driver for most including myself.
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11 September 2024 | 18 replies
I had to replace the fences after a strong storm last year, which costed $4200 in materials and labor.