Chris Mahoo
Long term rental when you are not full time real estate professional
Hello community,I have researching on benefits of long-term rental, and a bit stuck on requirements to be full time real estate professional (the 700 hours) if one has to be able to take tax advantages. If I cannot ge...
Pal Sa
Backyard shed as a short term rental
I am thinking of building a shed in the backyard for rental purposes. I live in the bay area. If you are knowledgeable about various aspects I need to consider, please do share. The high-level plan is to build a cozy ...
Matthew J.
Tax treatment of a sale of an overseas inherited property
I inherited a foreign rental property from my parents in 2017 and started renting it out in 2018. It was empty for a year. We never lived in or visited the property. I sold it in 2020 for a loss based on the appraisal...
Zackarias Aitchison
Tips on buying an investment property internationally
Hey!I am looking at buying multiple properties in the midwest. I am a Canadian citizen and resident. Are there any additional taxes, paperwork, or intricacies I should know before I approach a wholesaler to buy some p...
Ryan Cleary
Keeping business expenses seperate
As a new agent, I have yet to really explore the legal and accounting aspects. I mainly have been concerned with getting listings. That being said I have been using my personal credit card for all my business expens...
Scott V.
Turning a house into a hotel - set up as LLC?
Hello, my wife and I own a house in a very popular and fast-growing area of our city. We currently rent out the main house as a long term rental and live in a separate home we built at the rear of the property. The sh...
Susannah Bonn
Confused about capital gains exemption
Do you pay capital gains taxes when you sell in a house that you lived in for two years and then rented out for three? It fits the 2/5 year rule but not sure whether it fits the "primary residence" part. Does the ru...
Jay Story
How Can I Leverage My Land To Expand My Portfolio
I have 21 Acres of Land in a very desirable area and I need advise on strategies to Leverage it. I own it Free and Clear with my brother and currently there is a house on the land that approximately 6 months rent gene...
Antonio Chelala
Would you think this is a good deal if I seller finance?
Hello all,I hope you are doing well.I would like to get your opinion on the following report in the link below of a property. I know it is pending... I am a new Real Estate investor looking to get my first deal, howev...
Michael V.
Land Trust?
I have learned through posts that it is quite hard to close a reo property. I have seen information about land trusts but I am not sure how to obtain one, or what their purpose is regarding closing the deal. Could som...