Craig Sparling
Exclusive right to rep (A post Burnet et Al world) for Real Estate investors
13 January 2025 | 0 replies
The National Association of Realtors.That said, I will not be signing an Exclusive Right to Represent as an established real estate investor, and I’m honestly a little annoyed to be asked.I also realize this may qualify for Reddit’s AITAH channel.
Bruce D. Kowal
🚨 1031 Exchange QI Selection: Protecting Your Exchange Proceeds
13 January 2025 | 1 reply
It can't be stressed enough how crucial your Qualified Intermediary (QI) selection is in a §1031 exchange.
Kmsuea Abdei
Should I sign an exclusive agreement with agent?
30 December 2024 | 12 replies
You don't have to sign the agreement, though some state laws require an exclusive contract.
Brice Alef-Torrisi
Managing finances between multiple properties
13 January 2025 | 5 replies
@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.
Jacob Havlovick
Duplex House Hack
13 January 2025 | 6 replies
@Jacob HavlovickBigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
Troy Smith
CPA tax advice.
9 January 2025 | 11 replies
A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
Jeffery Jones
Section 8 properties
8 January 2025 | 11 replies
I’d love to connect with experienced landlords and investors who can share advice on getting started, selecting properties, and navigating the Section 8 process.
Angelo Llamas
Taxes on a new rental
30 December 2024 | 6 replies
@Angelo LlamasAt the bare minimum, you should do the following to make your bookkeeping easier:- Dedicate one checking account and credit card exclusively to real estate.
Dan N.
Can a Wyoming LLC own an investment property in ANY state?
9 January 2025 | 18 replies
A sub S election will probably block the free stepped up basis benefit though.
Tim Hem
Capital Gains and IRS Publication 523
9 January 2025 | 9 replies
Does renting the home while deployed void the eligibility for exclusion of gain, even when the home was lived in/primary residence for 2 of the last 7?