Ehren Williamson
Insurance claim after refinance
So I had a hail storm during a refinance. I didn't know you are supposed to tell them as soon as the damage happens I thought I just notify the insurance company. This is my first insurance claim on a house ever. The ...
Po Hsiao
Can i switch from active participation to not active
I have read a lot about advantage of claim "active participation", but no article about any pros on NOT claiming active participation.
I have placed a couple of properties in service in 2019 and will have a loss that...
Po Hsiao
Can i switch from active participation to not active
I have read a lot about advantage of claim "active participation", but no article about any pros on NOT claiming active participation.I have placed a couple of properties in service in 2019 and will have a loss that c...
Ashish Shah
doing a quit claim after sale
Dear 1031 experts,
We just completed a 1031 exchange from 2 properties sale into 1 commercial property. The deed of new property and 1031 exchange were set up correctly with the owners from the 2 properties being ref...
Erik Pacpaco
home insurance claim after water damage
We had a plumbing leak in our rental and there was damage to the flooring to the bathroom, kitchen, hallway as well as one bedroom. It was so bad that the tenant contacted us with a video showing the water seeping thr...
Paul D.
Tenants in common - who can claim active participation?
A family (parent and children) owns rental properties as tenants in common. Each co-owner has more than a 10% stake in the properties. One co-owner does 99% of the property management. However, when it comes time to a...
Marcus Lane
W2 & 1099 Realtor - Real Estate professional designation
Hi Bigger Pockets Community,
New member here...Im looking for some advice on whether I should be classified as a REPS or not for 2023 Tax year as my CPA isnt much help on determining if I should make this designation...
Kim Frantum
Personal Loans or LLC
I'm a new investor preparing to purchase my first investment property soon. Eventually, I would like to place my properties into an LLC, but for now I feel like I need to purchase my first property the conventional wa...
Joe Spinelli
Real Estate Professional - 750 hour question
Hello everyone! I know the criteria to be a RE Professional is 750 hours in RE and more hours in RE than any other job. My accountant told me that I need to spend 750 hours PER PROPERTY which does not make sense. H...
Jonathan Twombly
Do you need an LLC? Absolutely. There is No Debate About It.
The LLC debate rages on here at BP. Rarely does a day pass without an investor asking whether they should use an LLC or not. Perhaps BP should have a whole forum just devoted to this question . . .Having an LLC is ...