All Forum Posts by: Anne Dahl

Thanks Nick,

Totally agree, and that's my intent, in fact been there for many months now ..... but the million dollar question is - is that enough for the IRS? Can all my hours spent combing the MLS, researching, driving neighborhoods and networking be considered towards the time requirements the IRS requires.

Anne

Thanks Jeff!

Hi Everyone,

My name is Anne and I'm just starting out.  I've been learning from bigger pockets since April, and am grateful to have found this site.  I am so far ahead of where I would be without it.  Thank you to everyone who generously gives there time.  

I'm a stay at home Mom in Northern California, and apparently the business world has changed so much that I am now unqualified to go back to work. Then, at the suggestion of BP I read Rich Dad/Poor Dad and here we are! I'm interested in growing my family's wealth and preparing for retirement. I'm going to get my RE license as soon as my kids get settled into school this year. Meanwhile, I spent the summer looking at homes in the Sierra Foothills and found one that fits our criteria. We are buying a SFR and holding it. It will not cash flow immediately, but we are buying it with appreciation and cash flow for retirement in mind. This will be our first rental purchase, however, we own a home in the Bay Area and a cabin close to the rental property that we use for personal use. I'm using this house to get our feet wet before venturing further (out of State or Central Valley) for cash flowing properties.

My husband makes between the $150/$200K range so we cannot claim expenses or depreciation on property and we are subject to AMT.   I've read the posts on BP pertaining to this subject.  My question is, what constitutes a real estate professional? If I have my license but don't really work as a RE agent, is managing my property managers, along with buying and holding new properties - say at 1 or 2 a year enough to be considered a RE Professional by the IRS?  If not, what is?  In laymen's terms please.  

Thanks for your help!  So glad to have this community.

Anne

Hi Ray, 

Welcome!  I'm a Newbie from Oakland!

Anne