Posts Tagged Profit
This is a special Internal Revenue Code section that allows you to exchange or trade like-kind property for another like-kind property and defers the tax consequence until a later time. As long as you are exchanging property you are holding for the production of income (rental property) or property you are holding for investment (raw [...]
The only requirement is that you must have owned and lived in the property two of the last five years. What this means is you could buy a home, live in it for two years, and then sell the home, make $250,000 or $500,000 in profits (depending on whether you were single or married), and [...]
When you are buying real estate, there are some nice tax deductions available associated with real estate loans (points, loan origination fees) and closing costs (escrow fees, title insurance). When you are holding real estate, there are some nice tax deductions available associated with real estate interest, property taxes, and depreciation.
This may mean you have to work harder to find a good deal. We are going to show you how to win no matter what the market rates are doing.
We show you how to use agents to your advantage when buying real estate. The more buyers looking to buy real estate, the better it is for sellers. February through July/August are the best months to sell real estate.