The best tax deductions are those that do not require cash outlay, yet generate tax savings for you while the property is still generating a positive cash flow and appreciating.
The worst tax deductions are those with significant audit risk, such as deductions taken on highly audited IRS schedules. Here are the best, the worst, and everything in between…
All the Real Estate News That’s Fit to RE-Print™
Highlights this week:
* The time to clear distressed inventory rises
* Home prices increased by less than 1 percent
* Almost half of all homes sold in September were all-cash deals
As the famous American humorist, Will Rogers, once said:
“Buy land. They ain’t making any more of the stuff.”
Finding and buying distressed land deals at significant price discounts is one of the most promising ways to help investors retire sooner rather than later….
Investing through a self-directed IRA offers many tax advantages to real estate investors. With these advantages, comes a set of rules and regulations that must be followed in order for the IRA to remain compliant and maintain its tax-advantaged status.
If these rules are broken, the account owner could face significant taxes and penalties….
All the Real Estate News That’s Fit to RE-Print™
* Foreclosure Inventory Plunges Nearly 30%
* Foreclosure Activity Down 28 Percent from Year Ago
* National Credit Default Rates Remain Stable
* US Homes Spending Less Time on the Market
Which would you prefer – cash for today or wealth for tomorrow? How about BOTH?
Many people start off wholesaling and flipping houses and never make the transition from transactional income streams into long-term wealth building and residual income streams. Don’t lose sight of the long-term game plan….
When you get into “selling” scenarios (like wholesaling, retailing, options, lease options), the IRS may try to classify you as a “dealer.”
Being tagged as a dealer could be a financial disaster because, unlike an “investor,” you are subject to the highest ordinary income tax rates, plus self-employment taxes, and possibly….
VIDEO: One of the biggest problems real estate investors face is getting the seller to sign the contract. Real estate investor and attorney, Bill Bronchick, says stop talking so much and start listening more.
Here’s how to handle seller objections….
All the Real Estate News That’s Fit to RE-Print™
* Corelogic says home price are up 12%
* Housing is nearing pre-crisis norms
* Price appreciation prediction says slow-down to 5.4%
* SFR vacancy rate is still above pre-bubble levels
Are you looking for a new tenant or trying to sell a house? Interested in finding more private lenders? Do you need a referral to a good contractor?
A great way to do all of this is with the power of Facebook, Twitter and LinkedIn. The key is to be able to maximize your message to your connections….
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