If you’re looking for real estate investing tips, you’ve come to the right place. I have personally owned investment real estate for years. With that comes the good, the bad and the ugly and I’m not talking about the movie. If you’re like me, learning more real estate investing tips is a must so you can be a better investor. So before you launch into the world of real estate investing, here are few items you’ll want to consider. Estimate the Down payment Typically the lender will ask for at least a 20% down payment, and if you pay more than 20%, you will sometimes get better rates. For example, if you want to purchase a property which cost $500,000 you may be required to make a down payment of $100,000. Calculate the expenses If you are planning to purchase the property for rental income, taxes are a factor you must […]
Is My Personal House a Good Investment? Is My Personal Home a Good Investment? Real Estate is constantly in the news and often one of those get rich quick schemes. Just take a look around and you’re likely to find a course on how to become a millionaire with real estate. While investment real estate can garner you some income, what about your own personal home. For most people, it is their largest investment. However, is it a good one to make?
Preparing your estate in advance is one of the greatest gifts you can give your family. Many estates include real estate in the form of a primary home, vacation home, and other family properties. While inheriting a property can be a wonderful legacy, it also comes with obligations that heirs may be unprepared or unable to fulfill. If you intend to leave real estate to your heirs, ask yourself these five questions to help avoid creating problems for your loved ones. 5 Estate Questions Will the Property Have a Mortgage? If the property comes with a mortgage or home equity loan, your heirs will need to negotiate with the lender to satisfy the terms of the loan. In many cases, they may need to sell the property to pay off any loans if financial provisions aren’t made elsewhere in the estate. Life insurance is one option for giving loved ones […]
Selling Your Home? “Selling Your Home”, If you’re putting your home on the market, you may be able to avoid paying taxes on some of your capital gains. Here’s what IRS regulations say: If you show a capital gain on the sale, you may be able to exclude it from your taxes if you have owned and used it as your main home for at least two out of the last five years. You can exclude up to $250,000 (or $500,000 for joint filers), and the Net Investment Income tax will not apply to the excluded gain. You can exclude a gain from the sale of your main home only once every two years. If you claimed the first-time homebuyer credit, special rules may apply to the sale. For more information about tax issues relating to real estate, consult a tax professional in your area or refer to IRS Publication […]
INHERITING MONEY WISELY – What to do With Stocks And Real State Baby Boomers are coming into a vast piece of wealth, in the form of inheritance from their parents’ generation. Boston College researchers say that the transfer, by the time all is said and done, will total $8.4 trillion. If you are in your 50s or 60s there’s a two out of three chance you will be part of this movement, with the median inheritance totaling $64,000. Even if you are in your 30s or 40s (i.e. a member of Generation X) you may already be receiving some of this wealth. These inheritances fall into two categories: qualified and nonqualified. Qualified assets are the IRAs, 401(k)s, and other accounts set up to defer taxes. Here we will be talking about nonqualified assets: the home, the piece of real estate, the stocks, the collectibles—everything left over from a lifetime. […]
Millennials, Planning for Retirement is AWESOME! Most of the people who come in to talk about retirement are already middle aged, and the end of their careers are looming within the next decade or so. Sometimes they’re well prepared, but more often they’re not. I don’t get the pleasure of working with young couples and individuals as often as I’d like. Yet these people have the opportunity to make the most of their work years. With a little planning, some wise decisions, and a few (minor) sacrifices, they can help get on track for a secure and fun retirement. Add a little luck, and they may even be in a position to extend the fun by retiring early. Talk about books…. A life lived well will, of course, begins with the right mindset. Depending on their personality type, I ask young clients to read one of the following books: The […]