Updated about 11 hours ago on . Most recent reply
First Rental Property | Need to Lower Taxes
Hi all. My husband and I are just starting out in our real estate investment journey. We just set up our LLC and are starting to look for our first property. The goal initially is to lower our taxes, so looking for a short term rental and to write off depreciation.
Based on my reading, we must have a property “ready” to rent, not necessarily rented to do that cost segregation. Can someone give me some additional high level info on that. I’d love to save on taxes for 2025, but worried it’s too late in the year to find a property, close, and have it ready to rent by the end of the year. Any info is appreciated for this newbie!