I just returned from Orcas Island, the largest of the San Juan Islands which was once part of Vancouver Island. There is much history in this quiet island which has changed dramatically since the 70s. What draws people here (Gary Larson, Warren Miller, Hobie Alter, Bill Anders) who can afford to live almost anyplace in [...]
Read More..>>In marketing investment real estate, putting some “pizzazz” into the sale is important because purchasers weigh emotional and eye appeal as well as financial considerations in making a buying decision. Much of this is common sense, but common sense is not that common. Always, always remind yourself that most people are doing nothing. Following the [...]
Read More..>>You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use or occupation of property.
Expenses of renting property can be deducted from your gross rental income. You generally deduct your rental expenses in the year you pay them. Publication 527, Residential Rental [...]
POOR WILBUR
Nardo was a great real estate agent. He made a great living with less than ten clients. Nardo’s specialty was finding opportunities. I was one of his clients and so was a local school bus driver by the name of Wilbur. When a new deal would come along, Nardo would call me with, “Listen, [...]
If you sold your main home, you may be able to exclude up to $250,000 of gain ($500,000 for married taxpayers filing jointly) from your federal tax return. This exclusion is allowed each time that you sell your main home, but generally no more frequently than once every two years.
To qualify for this exclusion of [...]
You’d have to work a lot of hours at Home Depot to make enough money to use as a property downpayment. You’d have to be very lucky to buy a lottery ticket and win enough money to use as a property downpayment. But, as you should already be observing and learning from your local research, [...]
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Comments(0) The American Success Institute provides some good information that I’d like to share. My income property clients can pretty much be divided into two categories: (1) seasoned investors (2) people who relocated for business or married and decided to rent out their home. The similarity is income property is income property — everyone has different [...]
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