All Forum Posts by: Konkova Irina

Thanks guys! 
Thank you for your offer Marian. Unfortunately, $85 per month fee seem unnecessary overhead for part time agent that is not looking for any extra training.
It does sound like I need a small broker where I would only pay MLS and board.

Thanks again!

Hi Everyone,

I've just passed NY State license exam and looking to start working as a real estate agent. Need to find a broker so I can apply for a license and work thereafter with that broker.
Originally, I got the license for my own deals but figured I can also do deals for my coworkers. So I am planning to work part time, its possible I make no deals some years. 

I spoke with some big brokers and was put off by monthly technology fees. Those might be useful for full time agents, but it seemed like an unnecessary expense for me.  I also don't really care for the big kahuna name broker. I do care about the reasonable split, since I don't expect to bother my broker much except when I bring the check. 

Does anyone know a good broker that might be a good fit here?

Thank you very much BP community! 

Chelsea, 

That you very much! Will go with sole prop. then. (I am in NY)

Thanks Adam,

Any input on my question though? 

Hi Everyone,

I am having a W2 job that pays well and I am happy with the work. Recently, I passed RE salesperson exam and about to get a license. I did it mostly for my own deals but now I am thinking I might casually do it for my colleagues. 

I am trying to figure out what is the best structure for my real estate agent activity. I have the general idea what I can deduct (car miles, fees, maybe client dinner?). What I am not clear about is whether I should create LLC, S Corp etc.?

There is probably a low probability of me making any deals the first year and earning a commision. So I want to make sure I can deduct my real estate agent expenses against my W2 income. At the same time, most likely my expenses wouldn't be that high, so cost overhead of creating LLC probably be important. 
I am also open to idea that if I get lucky and make bunch of deals, my initial structure should be reconsidered.

Thanks a lot guys! Learning so much here.

Thanks a lot guys, wealth of information. 

Hi Everyone,

Want to try cost segregation for airbnb this year. Have couple of questions in terms of what type of property is best suited for cost segregation. Obviously, not to the point where it makes no sense as airbnb anymore. 

1. Condition: Does it matter if its new or old? Do you get more if the house is newer?
2. Appliances. From the description of cost segregation I would assume the more appliances the bigger the depreciation? Does it make any difference if its a high end appliances? 
3. I see that people online or podcast throw around numbers like ~20% eligibile to be bonus depreciated with cost segregation study. What if I want to buy a huge 2MM house with large land. Is it still possible to hit 20% mark? I am just thinking in terms of applicances, electric, pipes? Can that possibly add up to 400k?

Apologies if I completely misunderstand cost segregation study.

Thanks a lot!

Thanks, guys.

Yes, let me clarify the situation. 
It was my primary residence for the first six months, and if I do try to deduct it - Turbotax recommends me to itemize, otherwise, I am being recommended standard deduction. So it does make a difference.

What surprised me is on Form 1098 that I got from my mortgage lender, box 7 is unchecked, hence I was worried if I can deduct it. I assume it's unchecked because for the second part of the year I didn't live there, hence the property securing a mortgage is different from where the borrower lives. 

Again, thanks again, everyone. I would try to form my posts better next time :)

Awesome, thank you!

Hi Everyone,

Last year I've converted my primary residence into a rental on July 1st, 2021. 
Can I deduct the mortgage interest that accrued while it was my primary residence? i.e the first 6 months of the year? 
I don't have any other mortgage. 

Thank you, guys! This forum is very helpful.