Morgan Moore
Investor from Marin County, CA
Learned about this blog/forum via the Mr. Money Mustache blog. My wife and I are in our late 40's and have no debt, but good jobs and no kids, so pretty low expenses. We own one SFR in Milwaukee, and are actively lo...
Brian V.
How does the government look at income from real estate?
If someone bought a property today and rented it out, they would declare the income on their taxes. The income would be passive. There for based on my understanding is someone who collects Social Security Disability ...
Jason L.
Can I can depreciation?
Hello BP fam, I bought my first real property in Oct. 2014, am I able to claim deprecation for this time. I have read some places that have said you can not claim depreciation during your first and last year of owner...
David Ramirez
How many doors/units before qualifying for REPS?
Good morning,
I am new to the real estate game, looking for our first fourplex now, just got pre-approved. Background: employed (w-2) as a physician, wife is a stay at home mom, also very interested in real estate an...
Darrell D.
Another Tax Question
I've been using Turbotax for years but it no longer supports my situation. I completed two flips then rented the homes. Turbotax asked if I "materially participated" and I said yes, but they don't support this scena...
Dustin Wise
Short Sales and MLS Status
There seems to be 2 schools of thought when it comes to short sales as it pertains to the MLS Status (Active, Backup, Pending, Closed). Specifically when the listing agent receives an offer on a short sale. However, I...
John Thedford
Florida DBPR Unlicensed Activicty Campaign Via Email
Just received this from DBPR. The Unlicensed Activity Program within DBPR exists to serve the state of Florida by vigorously examining compliance issues, comprehensively educating consumers about unlicensed activity a...
Tri Le
Question regarding income from rent
Hi,I'm new to the forums and looking into purchasing rental properties. I do plan on keeping my current job while I get started.I'm currently reading the Bigger Pockets tax strategy book and it is very eye-opening and...
Steve Hudson
Qualifying as a real estate professional - taxes
We're exploring ways for my spouse (who does not have a full time job, but works 25 hours/week outside real estate) to qualify as a real estate professional as we build our short term rental portfolio. Curious if anyo...
Ray Eason
Forming a California Based LLC (Simple Question)
Hello and good day.I am in the process of getting some properties under contract and wholesale/quickturning those properties to my cash buyers and need to setup a California based LLC.I am using Legalzoom. There is a ...