All Forum Posts by: Yonah Weiss

Thanks for the mention @Ashish Acharya!

@Ryan Morgan we work in all 50 states. We're not allowed to share contact info here in the forums, but feel free to DM me and I would be happy to help.

@Daniel Hyman you are the main reason that I got started posting here on BP. When I saw your smiling face on the platform, I knew it was a good place to be a part of. Thank you for the mention. Honored to be mentioned along side so many other amazing people. 

Since all of your comments add value, think of it this way, you have helped 2,000 people! That is amazing! Keep it going strong.

@Scott Esmail as others said, you can get it done at any time. It's best to look at the potential numbers, including your current situation, to see how much of the depreciation you can use this year, versus in the future.

Do you want to learn how to find off-market deals, and find creative deal strategies?

Then make sure to join tonight's Real Estate Connections - Virtual Meetup. It is going to be awesome! 🔥

Special guest speaker - Axel Ragnarsson (Host of the Multifamily Wealth Podcast)

Topic - How to Find Off-Market Deals & Creative Deal Strategies

This is one you won't want to miss. Are you coming?🙋‍♀️🙋‍♂️

Tonight, Wed. Aug. 10th 7:00pm EST

👉Use this link to register

Please tag someone you think will be interested.

We meet every Wed. 7:00pm EST, if you haven't joined before, you don't know what you're missing.

Make sure to leave time for the zoom breakout rooms networking after the presentation.

See you there!

@Thomas Aellis the conferences mentioned above are all great, but you should check out Multifamily Mastery 5 in Orlando this November, it is one of the best conferences I've been to. Hosted by Jake and Gino.

Congrats @David Lyons! Looks like an awesome property! @Derek Tellier & the STS team are the best.

Okay, now you're saying something else, from your original statement that I questioned. 

You're right that it is new, and there is not precedent (to my limited knowledge) that this has ever been challenged and succeeded in an audit. Since STRs have really taken off over the past few years, this has only recently become popular. Will this become an issue in 3-5 years from now, when the IRS finally notices? I don't know, but I trust the CPAs I have spoken with to interpret the code, and apply it how the feel would stand up in an audit.

 I'm wondering what data you are using to determine your statement: "The issue is most accountants think what he says on this topic is not accurate." The "STR Loophole" as @Daniel Murphy explained below, is pretty clear "Materially participate & rent for less than 7 days, you should be able to write it off against active income."

I have spoken with dozens of CPAs that understand the ruling in the passive loss limitations as @Brandon Hall explains it (tagging him in case he wants to defend his position), and very few that don't view it that way. Of those who have not viewed it that way, they all had little experience with real estate. My experiences are anecdotal. 

Thank you for the mention @Cody Z.! good to be in great company!

Thank you @Daniel Hyman & @Lien Vuong!!!