Has anyone used the qualified real estate professional status while also having a W-2?

like
Posting as :
works at
You are currently posting as works at

If you can substantiate the hours requirement, it’s possible. had my wife get her license while she was on maternity leave (her job is less stressful than mine). She hosts open houses for friends and then serves as a buyers agent for friends and family. Meets the hours requirement easily, allowing us to free up passive losses.

Yes. Husband heads a real estate organization at a bank. That’s a way to qualify. We do all rental work ourselves. 14 hrs a week is all you need if you are not in real estate for work. We have an Airbnb as well and easily cross that managing/texting/scheduling cleaners/buying supplies/etc.

More than 50% in real estate, correct. The W2 job then has to be in RE.

Related Posts

What percentage of your income do you save, invest and spend?

like

Anyone have a realtor they can recommend that would kick back a portion of their commission on a > $1.5M purchase. Please DM. Thanks!

like

Is 80k cash + 20k company share a good deal for a junior dev role in the bay area?🙏

like

How diligent is Mintz background check. When it comes to education? My references, credit, criminal and work experiences will check out. However said I already graduated school when I am in reality a month away from graduating. The company sent over the contract and start date at the same time as the background check.

like

Looking for an investment advisor who is 1) a fiduciary 2) has a CFA/CFP/CPA or some combination thereof. No exceptions. DC/Baltimore area.
TIA.

like

My income is equal to expenses of my friend.. i worked for seven years just to earn that what she spends in a month by only working for a year...not happy.. not disappointed.. just dont know what to do..😶😮‍💨

like

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

I am financially secure (husband now has a high earning job) and looking at what options for "moon shots" at chances of real wealth generation with my years in Big 4 (10+). Month to month cash flow isn't a concern anymore so i can focus on opportunities for bigger pay days. Ideas from the hive mind?

like

Any suggestions for books to read about any guide for buying house in Canada or on real estate in Canada ?

Thanks

like

Hi new to crypto! What apps/sites would you all recommend to start investing? I have Robinhood but it doesn’t have a lot of the crypto options

like

Personal finance book recommendations?

like

Looking for some software or tools recommendations for
1. Plan for retirement- I am looking to do the following calculations : calculate total corpus required at retirement based on inflation lifestyle etc. , calculate total amount my investments will grow at retirement age ( 401 k , savings etc, ). These two figures should give me an idea where the additional amount i need to invest.

Any recommendations?

like

I will be moving to Australia from the US in a couple of months. I was wondering what would be the best way for me to transfer the money in the US bank account to Australia? Also what are some of the good banks that allow opening of accounts when the individual is not in Australia? Thank you for the help!

like

If I max out my traditional 401k and have a mortgage interest deduction to against my w-2 taxes does it mean I can pay way less taxes than a average person who makes same amount salary as me?

Is now a good time to buy a house?

like

We bought a condo in February 2022 then as you know prices are going down while rates are flying up 😭 We're quite worried about the value of our home and can't really enjoy it. What's your thoughts about this? PS. First time home buyers 🤫

like

Moving to Austin end of this year, with a new baby.

With ~$500k HHI and almost no debt, in which neighborhood can we practically afford a house? We do outdoorsy stuff (mtb biking, kayaking etc.) and also have a dog that likes to run.

Any suggestions are appreciated! 🙏🏽🙏🏽

like

FIRE Newbie here - wondering how everyone is retiring early (30’s 40’s 50’s) if the majority of your savings are tied up in tax preferential retirement vehicles you can’t really touch for another few decades?

like

I am going to buy AntShares aka NEO bigly. It has a potential to go to 100$

like

More Posts

Can anyone comment on TC expectation (base+stock+bonus) at Apple for Technical Program Manager Role?
Location: Cupertino
Level: TBD; ICT3/4

like

I applied for a post of Test Automation Engineer in UBS, Pune. What salary can I expect?
Also would like to know about UBS culture and work/life balance?
YOE: 2 years

like

Anyone familiar with Hikma in Ohio? I have a upcoming interview for senior director of BD, Curious whats pay, culture etc. Is it cut throat?

like

Does anyone comment in this bowl

likesmart

I currently work in risk assurance and have a strong background in data analytics. I’m not really sure what my options are looking forward or where to look. Any ideas?

like

Hello Fishes . Anyone works for delta here ? I need your help . Want to know about work culture and job security .

like

Hi fishes,

I have recently joined
Oracle and got a mail from medi-assist for enrollment of dependent under GMC medi coverage. But I have ended up with login issue in medibuddy. Please help me with the further step, the window will be closed on 24th Oct. Amazon Tata Consultancy Infosys Cognizant Oracle Capgemini Wipro HCL Technologies

like

Has anyone had a nurse state the assumed sex at 12 week ultrasound? The nurse is fairly sure it's a boy, and I'm wondering how accurate her guess is based on a close look of the genitals. Confirmation won't happen until 20 week appt, too far away!

Can we reimburse domiciliary expenses in PwC india?

like

What’re the best neighborhoods for going out in Denver? Moving there for summer and trying to get a lay of the land. Hobbies include drinking, drinking outside, drinking on rooftops, drinking by pool

like

What should be the salary Bracket for JL4 ? YoE 13 - Skill - MIM

likehelpful

I've just 12 hrs to think about this -- Oracle or Freecharge ?? Work profile with Oracle is development of oracle jet framework and with Freecharge merchant app with freecharge Please help yaaro

like
like

Is it easy for engineers to become TPMs?

like

Travel and TTC combo haven’t worked. After 6 months, the only offer I got included 4 weeks paid and FLMA only after 1 year. So 1) go and risk laughable benefits or 2) stay but risk TTC. So shitty 😭

like

I'm going to Machu Picchu next month with my brother and hiking the Inca trail. Any recommendations on what I absolutely need to bring for the hike? Anyone who hiked the Inca trail take like a battery pack or something with them for their camera?

Also, I'm considering bringing my drone even tho I know I can't take it into any of the sacred places like Machu picchu. I also have to register it with customs when I get into the country. Is it still worth taking? I can use it around Cusco and Lima

likehelpfulfunny

Has anyone transferred an embryo that is 1PN instead of 2PN?

like

Big 4 EAs: How many partners do you support? How many do you think is realistic for the pay and your sanity?

like

Any Gayglers (Gays @ Google) here?

likefunny

What do you all think is the right way to deal with what’s happening at the border?

likehelpful

Additional Posts in The Real Estate Bowl

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

Any one knows what’s the easiest way to order a radon test for new construction?

like

I really need recommendations. I want to replace the through-the-wall AC units in my condo. Anyone buy ones you really like? Or rent an apartment and are happy with your (newer) AC units?

Tried doing research online but reviews are all over the place. And would love firsthand recommendations.

like

Can I get a commercial loan without 25% down?

like

What's the best city in UK to buy a buy to let property, with best returns?

like

I have over 12 years in B2B sales/sales management experience along with a graduate degree. I am wanting to shift gears and I am at a point where I can invest time in myself to learn through practical experience. The new industry I am wanting to pursue is real estate investment. I have read all the books but want some hands on experience on the property management side. How could I best leverage my skills for a role in this, and what should my expectations be for negotiation in compensation?

I share my first property with a family member which is my primary home. If I buy a second property (and keep the first property) and live there, does that second property now qualify as my primary home?

like

Better mortgage vs. Rocket mortgage - anyone shopped with both and what swing your decision?

like

If I’m a Real Estate Agent buying my own property, can I negotiate the Buyers Agent commission to be 0% instead of being paid the buyers commission? Essentially converting what would be Income into Cost Savings for tax purposes?

like

Due to a family situation we are looking to move to a different state. Normally we would sell our current home and buy a new home in our new location. However, with todays prices and interest, will it make more sense to rent out our current home and rent a home ourselves vs. selling and buying immediately when we move? We are moving from Vegas to Sacramento and we are not sure how long we would stay in the new area. Thoughts?

How big is to big for an initial investment property. Theres a 20 SFH portfolio for sale by me for about a mil. Is this to big to start with initially? I'm less worried about the Financials (feel comfortable on that end) and more worried about the managerial aspect.

like

What are some of the things that were a MUST when buying your first home and what were some things that you were more flexible with and why? I’m having a discussion with my partner about what we absolutely need and what can be worked on later.

like

Do you thank your tenants for paying the rent? A quick thank you text?

like

Thoughts on buying pre-construction homes in markets that are popping and flipping selling them when construction is complete?

My uncle does this (he’s a realtor) and usually gets 2-3x return. Obviously there is huge risk because property prices can change a lot in 1-2 years, but at the same time the upside is hard to ignore.

Anyway I protect myself against the downside risk? (other than loosing my down payment)

like

Hey everyone, curious about pros/cons and profitability of renting out a unit long term vs AirBnB. Let’s say it’s a condo downtown in a big city, how do you figure out what’s the better option?

like

28 year old with ~125k in cash/brokerage. Have been wanting to begin purchasing rentals but anxious to use a good bit of my liquid savings. Thoughts on biting the bullet vs. investing in stocks. In Houston if that is a factor

like

How did you get started with your personal investing in stocks? I am 26, F, have some money in savings, 401k, stocks and just started my own business albeit small. I’m extremely interested in real estate investing have been reading and listening to podcasts. Any advice?

like

How much should I invest in buying a HOME as my primary residence.

Current TC: 200k
Net worth: 300k, readily available 170k in stocks, hysa and cash
Current rent: 2000 per month
Age: 30

Wonder if anyone has any excel model or a rule to determine how much I can afford or should go for?

like

Anyone punched out of state 4-10 unit apt building? How did you find the listing?

like

For anyone that has bought a townhome from Lennar, are the walls fairly well insulated for sound?

What, if any, were your main complaints?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal