Account Closed
What activities actually matter for real estate professional status? (REPS)
4 May 2024 | 3 replies
Unsuccessful Property Search: Hours spent on unsuccessful property searches, where no purchase is made, do not qualify.On-Call Periods: Instances where you are on-call but do not actively perform work do not count towards material participation.Meeting Requirements:Maintain Detailed Records: Keep accurate time logs and records documenting your involvement in material participation activities, supported by evidence such as emails and calendar appointments.Seek Professional Guidance: Collaborate with a qualified tax professional to ensure compliance with IRS regulations and to optimize your material participation strategy.I hope this high-level overview gives you insight into what activities matter and ones that do not.
Forrest Brown
Hold and Rent OR Sell and Invest Out of State
3 May 2024 | 25 replies
Purchase Price: $585k with a $100k down payment on a 2.7% interest rate.
Allen Zhu
is detroit MI really a block by block area?
4 May 2024 | 8 replies
We highly recommend though, having a local expert that you can run addresses by, to confirm the target property in on a good block before signing a purchase contract.
Josh Mitchell
Experienced Agent, Inexperienced Investor
4 May 2024 | 9 replies
It's not all rainbows & unicorns, but the city has turned the corner on recovery and those that get in now, in the right areas, should ride a solid recovery wave to wealth.Now that we've covered that, read our standard copy & paste advice about rental investing below:)Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.
Daniel Vargas
Buying Turnkey properties
4 May 2024 | 7 replies
I've purchased turnkey properties, as well as BRRRR style transactions in multiple Midwest markets.
Sonia Mahop
New in Real Estate Investment Looking for Property in Maryland
3 May 2024 | 8 replies
I plan to purchase a 2-unit+ property as a first-time owner to get all the advantages Maryland offers, and scale from there.
Pradeep R.
Investing West of US61 - memphis 38109
4 May 2024 | 4 replies
If I was an out of state buyer I would purchase homes over in Coro Lakes or East of Third Street near Shelby Drive and Horn Lake Road.
Jason Khoury
Advice on first property... BRRR or move in ready? WA state.
4 May 2024 | 4 replies
Being able to force appreciation through value-add work is a safety net during volatile times, especially if you end up needing to exit soon after purchasing and rehabbing.In the next few years...🛠️ you'll have time to complete a good amount of rehab work on your own💰 you'll likely be earning more at work than your starting salary now, and the monthly payment will be less of a burden🔵you'll likely make friends who may be willing to rent a room or two from you (house hack) to reduce your monthly expenses, if the monthly payment is difficult for you💸you'll likely be able to refinance at a lower rate.
Mischa Turner
Am I Rushing Into a Purchase??
30 April 2024 | 8 replies
This leaves me with single-family turnkey or BrRR opportunities, which I would most likely convert from primary residence to rental property six months after purchase.
Trace Adams
Littleton basement rental house hack
4 May 2024 | 3 replies
You should KNOW the rental laws before you even look for a property to purchase with the intent of renting it out.