Hi Mark & Matt,
I’m a current client at Directed, with my Roth IRA and a big fan of you both! I consume all the content you guys put out, great books, better podcasts. Thank you for teaching me so much on tax planning, self-directing and small business! I am currently a full time loan officer, new entrepreneur and MBA Student. In December I closed on my first rental property, a duplex in my hometown at 24 years old. I plan to continue investing in small multifamily while growing my business (sole prop) to harvest tax write offs for everyday expenses! The goal is to grow the business strategically over the next several years to S-Corp status so it can sustain me full time financially. My question is, if I look at rental real estate for 500 hours a year, would I be classified as a real estate professional in the eyes of the IRS?
Thank you for teaching small business & self directing to everyday people, it is achievable for every American through strategic growth, education and hard work!
Also, keep the jokes coming on the podcasts, learning can be fun sometimes, you guys ROCK!