Probate Real Estate to Eliminate the Competition. Diana Hill Professional Real Estate Investor Instructor Real Estate can be about creating long term wealth or cash flow. No matter which way you go, the big question is often, “What is the best, most profitable real estate buying strategy?” There are many but the best I’ve found in over 25 years of real estate investing is Probate. Let me take this opportunity to explain why Probate is a tool that every real estate investor must have. Probate: defined as a process that takes place when a person who has assets passes away without a perfectly executed Living Trust. When we hear words such as REO’s, foreclosures, and short sales we think about distressed real estate that may be purchased for a bargain price.
Why would you choose to chase foreclosures when Probate offers more opportunities with much less competition? Perhaps the most ironic concept about Probate is that it’s simple, very simple. There are a couple of key terms you’ll need to understand when dealing with Probate. Driving For Dollars: An Alternative Approach To Finding Motivated Sellers - REtipster.com. When it comes to the subject of finding motivated sellers, we can ALL benefit from finding new ways to do business. If you’re familiar with this blog – you probably know that I’ve always turned to things like direct mail and internet marketing to find motivated sellers and while these methods can do a phenomenal job of reaching the masses – they offer significantly less control in terms of pursuing specific properties that you might have your eye on.
Given this, I wanted to use this post to focus on a realm of marketing that I have very little experience in, but is worth having on your radar nonetheless. Today’s post comes to you from Chris Feltus, an expert in Driving for Dollars. This is a unique method of reaching out to property owners in a more intentional, targeted way. Let’s start with a brief overview on Driving for Dollars. Like the REtipster Blog? Become an REtipster Email Subscriber and I’ll send you a free copy of INVESTOR HACKS! 100% Privacy. Related January 14, 2013. Customer Appreciation Special. Meet your Spirit Guide FREE Meditation / Self Hypnosis Audio. Avoiding Capital Gains Tax When Selling Your Home: Read the Fine Print. You probably know that, if you sell your home, you may exclude up to $250,000 of your capital gain from tax.
For married couples filing jointly, the exclusion is $500,000. Also, unmarried people who jointly own a home and separately meet the tests described below can each exclude up to $250,000. The law applies to sales after May 6, 1997. To claim the whole exclusion, you must have owned and lived in your home as your principal residence an aggregate of at least two of the five years before the sale (this is called the ownership and use test). You can claim the exclusion once every two years. But, even if you don't meet this test, you still may be entitled to a whole or partial tax break in certain circumstances. First, How Much Is Your Gain? Many people mistakenly believe that their gain is simply the profit on the sale ("We bought it for $100,000 and sold it for $650,000, so that's a $550,000 gain, and we're $50,000 over the exclusion, right? "). If You Don't Meet the Use Test. Overcoming Procrastination - Get Things Done | Subliminal Messages Binaural Beats.
Use Real Estate To Put Off Tax Bills. Investing in real estate continues to be one of the best ways to build wealth and cut taxes. Benefits include the ability to recover the cost of income-producing property through depreciation, to use 1031 exchanges to defer profits from real estate investments, and borrow against real estate equity to make additional investments or for other purposes.
Additionally, homeowners can benefit from the personal-residence exemption, which shields profits on the sale of a personal residence from capital gains taxes, as well as the deduction for mortgage interest. Read on to find out whether one or a combination of these strategies is right for you. (For background information, read Investing In Real Estate.)
TUTORIAL: Exploring Real Estate Investments DepreciationYou can recover the cost of income-producing rental property through annual tax deductions called depreciation. Property RegulationsIn order to successfully complete a 1031 exchange, the properties must meet the following criteria: Land Trust Traps for the Unwary Investor - Part 2. Last week I wrote about two of the primary misconceptions regarding the use of land trusts in real estate investing. I am amazed at the response my Blog generated. My intent in raising this issue was to inform people on what to watch out for when considering this entity for real estate investments. As a licensed and practicing real estate/ asset protection attorney for over 13 years I have heard several accounts from real estate investors regarding the information received from different speakers on the use of land trusts.
Much of what I have heard does not comport with my personal practice or understanding of the law. In point of fact I have recently consulted with an investor who is embroiled in a multi-party lawsuit (he is the sole defendant the other 13 or so are Plaintiffs) and not one of his land trusts has provided him an ounce of protection. Although a members’ interest in a LLC is considered personal property, see § 608.431, Fla. Click Here to Download Land Trust Benefits Related. Creative real estate investing. Bird-dogging "Bird dogs" get paid a referral fee for finding good deals for other investors.
This is often where people begin their investing career as there is only time at stake. They are typically paid when the deal closes. Some birddogs will structure companies and partnership arrangements as they're frequently not real estate agents and may not be able to collect a "referral fee" for their services. Options An option is defined as the right to buy a property for a specified price (strike price) during a specified period of time. Short sale or preforeclosure When a property owner fails to make their mortgage payments for a number of months they are in default. In many jurisdictions, including the United States, the seller is responsible for taxes on the amount of the mortgage left unpaid after the sale as ordinary income. Hard money lenders Tax liens This may not clearly fall in the category of "real estate investing", however it is worth mentioning.
Amazon. The Complete Guide to Vision Boards - FREE! TMMBook.com [FREE Downloads and Resources] GET FREE DOWNLOADS NOW. Register RIGHT NOW to receive all of your free resources referenced in THE MIRACLE MORNING. You’ll get immediate access to: The Miracle Morning AFFIRMATIONS including Hal Elrod’s Personal Affirmations and the famous “Bedtime Affirmations” that show you how to make waking up (especially early) easier than it’s ever been before…Hal Elrod’s Miracle Morning ENERGY Smoothie recipe to start your day with an abundance of healthy, natural, organic energy!
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"How to Work with Delinquent Properties WAY Before the Tax Sale" Bonus Section NEW - Tax Delinquent Property Lists For Immediate Download A large selection of tax-delinquent properties from dozens of counties throughout the United States, ready to download now. DeedGrabber Study Course DeedGrabber Study Course Get the Ebook in printed format in a sturdy binder, plus these extras: - Paperwork/Legal Forms CD-ROM - Everything you'll use to purchase and sell properties in Word format - 1 Hour Seminar DVD - Overview - Quick Start CD - Get started fast by focusing on the essentials! Shipped to Your Home - UPS. Brian Durham, Real Estate Agent in Minneapolis | Trulia. Jack Bosch Blog | Land Investing | Land Flipping | Real Estate Investment Education. Land Profit Generator (Home Study Course) Find out how to buy land for pennies on the dollar and sell it for huge profits.
Learn how to make land cash flow and how to sell in any market. Learn More... Hidden Tax Sale Cash (Online Training Program) Profit from tax deed auctions without ever attending the auction, or placing a bid. Flip It Fast Formula (Online Audio Home Study Course) Discover how to buy single family homes for as little as $3,000 and flip them to other investors the very same day for quick profit. myOpenPath.com (Monthly Membership Club) The Largest Training Library for Real Estate Investing, Online Business Building and Financial Education on the Planet Join the Club Forever Cash Kit (Personal Finance Education) How fast can you retire? Get Your Kit FREE Tax Delinquent Real Estate Secrets (Live Event) Spend three days learning 5 methods to real estate wealth. Get Details Here. Answer to those calling you vulture stealing houses from Grandma!
Do you hesitate to answer when someone asks you what you do for a living? Do you hang your head when the naysayers label your industry as a bunch of vultures preying on the innocent, trying to steal houses from little old grannies? The media has painted a negative picture of our business because of the discounts we receive and the profits we make... And yes, because of the actions of a few selfish individuals that do steal and cheat and make a bad name for the rest of us. What most people don't take into account is the fact that we "vultures" are a necessary part of the real estate industry.
Who but us investors will buy the blighted property and restore it to livable condition? If not for us investors, many, if not most of the distressed properties would end up in foreclosure or worse. More families would end up in bankruptcy, more vacancies would remain vacancies. Our business model as real estate investors is to be professional problem solvers. "DO WHAT??!!! " "DO WHAT??!! " "DO WHAT??!! " Real Acquisitions. Selling Owner Financed in Texas? Be Careful. The Texas legislature is at it again. Just a couple of years after severely restricting the ability of real estate investors to sell residential property on a lease option or contract for deed, our representatives have passed a law requiring a massive disclosure whenever a seller conveys a house without paying off the underlying mortgage(s).
NOTE: this disclosure is not required if the buyer gets a title insurance policy, so if you always insist on title insurance when you sell a property, you won’t have to worry about this. Texas Property Code § 5.016, which became effective on January 1, 2008, applies whenever a seller sells, or contracts to sell, an interest in residential real property “that will be encumbered by a recorded lien at the time the interest is conveyed.”
That means the statute applies any time a residential property is sold without paying off the existing mortgage or other liens. Yikes! That’s a hefty disclosure. Why Seller Financing Makes Sense - REtipster.com. The idea of seller financing used to scare me to death. The idea of “becoming the bank” didn’t sound appealing to me AT ALL. In my mind, I just wanted to be cashed out as soon as possible so I could be done and move on with my life. However, once I realized the truckload of extra money that I could be making as a result of financing my properties; I decided to try my hand at it. After selling one property, and then another, and then another – I started noticing how nice it was to have checks delivered to my mailbox every month whether or not I continued to put forth any additional effort.
The buyer usually makes a down payment, gets a deed, and signs a new note to the seller (the “wraparound note”) for the balance of the sales price. This wraparound note, secured by a new deed of trust (the “wraparound deed of trust”), becomes a junior lien on the property, behind the existing first lien. The buyer makes monthly payments to the seller on the wraparound note and the seller in turn makes payments to the first-lien lender. Often the wraparound note to the seller exceeds the amount of the wrapped note payoff by the amount of the seller’s equity – this is the seller’s profit. Specific terms can vary from transaction to transaction, but the wraparound principle remains the same. Conclusion? Relocation Information for San Antonio - Exit Realty. The 5 best neighborhoods to buy in San Antonio right now - CultureMap San Antonio.
There's no denying that Texas is the place to live. And with San Antonio's real estate market booming, now is the time to buy. We chatted with longtime Realtor and president of the Phyllis Browning Company, Jennifer Shemwell, to get a little insight on the local housing market and the top neighborhoods to live. "Sales are up citywide by 5 percent in August compared to August sales one year ago," notes Shemwell, adding that the "average home price has increased 7 percent in San Antonio overall. " Most of the neighborhoods on our list are in San Antonio historic districts, close to downtown, and easily accessible to many shops and restaurants.
Here are the top five neighborhoods for investing right now: Alamo Heights: 78209 "Alamo Heights seems to always be increasing its value; it seems to be one of the highest returns in the city and fastest resale areas in town," Shemwell says. Some Advice to New Landlords. San Antonio Real Estate Investment. Top Spots to Flip in San Antonio and Why. Best place to buy an investment rental home in san antonio, any diff bet 4plex vs. Single homes roi wise? - Trulia Voices.
How to Make a Million Dollars from Real Estate: A Step By Step Path. How to Make $100k/Year with Fixer-Upper Rental Properties. Should I Flip or Buy and Hold? Yes! Joseph Pickett. 4 Expert Tricks for Finding Flip Deals in a Tight Market. 3 Reasons San Antonio TX Beats Austin in Real Estate Investing. Alex Everest's Picks for Real Estate Investors. Address and Property Directory | Rehold.
Bargain Shopping: How To Find Good Real Estate Deals. Forget the MLS... Here Are 7 Clever Ways to Find Great Real Estate Deals! John T. Reed’s views of various real-estate-investment gurus Part 1. Free Real Estate Books. City of Bastrop, Texas. Finding Code Violation & Condemned Property Deals. Waco Real Estate Market - Home Price Forecast | LittleBigHomes. Waco City Sale Properties | Home. Buying Houses with Code Violations.
10 Reasons to Pursue Registered Vacant Properties. How to Find Abandoned Houses: 9 Steps. Buying Houses with Code Violations. REtipster.com - Real World Guidance for Part-Time Real Estate Investors. How I Find Motivated Sellers (And Get Them Calling Me). Step 1: Getting The List - REtipster.com. Where to Find Information on Abandoned Homes and Other Properties. Skiptracking and other Techniques. Why Stock Markets Crash: Critical Events in Complex Financial Systems: Didier Sornette: 9780691118505: Amazon.com: Books. Best Financial Books For Your People. Best Financial Books For Your People.