How big of an impact is losing the homestead exemption?

I am reaching out to explore potential partnerships that could impact the real estate market I'm specifically targeting in Florida (not Fort Lauderdale).  

This shift has notably impacted property values, leading to significant downturns.

Additionally, the limited rental period may not significantly impact the gain, but it’s essential to confirm whether any prorated exclusion applies or if the IRS rules regarding converting a primary residence into a rental property could affect the tax owed.

But the practical impact is questionable.

Bonus question: what kind of impact does this have on my taxes and how do I file this?

With interest rates on the rise, how has it impacted your ability to sell properties in Texas?

This is a great way to make a significant impact in your community and provide a new stream of revenue in the mid-term rental space.

However, you’ll need to ensure that the reduction in cash flow doesn’t significantly impact your financial stability or increase stress levels.

PS if you're really fired up about starting your journey, take a look at our BPCON 2024, it's in Cancun October 6-8th and it may feel like diving into the deep end but making that investment in yourself and your REI education can make a monumental impact as you get started!