All Forum Posts by: James Liess

 Thanks

I have a multifamily, and luckily both tenants stayed for two years, but the upstairs tenants are leaving. I found a new tenant quickly, but I'll lose a month's rent due to the transition. Is there a strategy to transition tenants (make sure the property is clean etc, get all the paperwork set up) and not miss a month? Thanks 

It’s in the tax code to be qualifies as a real estate professional you need to spend at least 750 hours on it and more than half of your working time.

https://www.cerebraltaxadvisors.com/blog/real-estate-professional-status/#:~:text=750%2Dhour%20test,portfolios%2C%20and%20advertising%20for%20tenants.

For the 750 hours needed to be a real estate professional, does someone have examples of what counts as working on real estate? Does correspondence with tenants, contractors etc count? Researching properties, looking at properties, paying bills, lease agreements etc? 

Thanks  

How does everyone handle noise complaints from the lower level of two-family houses if you've already asked the top level to put down area rugs? The sound issues a probably legitimate but there isn't much you can do about it except walk softer I guess? But the upper level has kids. 

Hi Everyone, 

First time posting and just getting more into real estate. Took over a 2 family residence in northern NJ and wondering if anyone as experience with property managers here or just handle themselves. I tried search online but it seems like most of the property managers manage large apartment complexes. Thanks