Regardless of whether you’re entitled to $250,000 or $500,000 of exclusion when you sell your home, prices have gone up so much in the past two years, you may be approaching the limit where you might have to pay tax on the excess when you sell. Any improvements you have made to the home during […]
I’m sure you’ve probably played Monopoly at some point in your life. During this game, you’ll purchase and develop properties (developing them by placing houses and then hotels on them), and sometimes you may even sell them. As you go along in the game, and when many of the properties have been purchased and developed, […]
If you’re currently a homeowner, you might be feeling quite good that you purchased your home before the market got crazy with higher prices and interest rates. But, there is a possibility that your days of basking in glory are coming to a close. You might be facing higher mortgage payments for next year. Most […]
Let’s talk about mortgage payments. Some common ways to lower your mortgage payment are to make a larger down payment and to improve your credit score. Improving your credit score is especially important when you’re applying for a mortgage. Here’s another way to lower your payment – buy down the interest rate for the life […]
If you’re a tenant – hearing the words “rent is going up” is more than likely not something you want to hear. However, if you’re an investor, that phrase really is music to your ears. A recent study performed by CoreLogic known as the Single-Family Rent Index, April 2021 showed a 5.3% increase in national […]
Have you inherited a property? There’s an incredible benefit to people who have inherited property, known as “stepped-up basis”. Not only do they receive the property itself, but the basis or cost value of the property becomes the fair market value at the time of the decedent’s death. What does this mean? It avoids the […]
Will a rental property give you the rate of return you are looking for? My modified annual property operating data may be just what you are looking for. Investors consider different rates of return to determine whether a property will generate the yield they expect. Often the simplest of calculations can tell you whether you […]
The Wall Street Journal reported recently that investors have rarely been this flush with cash. According to Refinitv Lipper, the economic uncertainty due to the pandemic and the volatility of the stock market has caused assets in money-market funds to increase to approximately $4.6 trillion, the highest level on record. If you are one of […]
The determining factor for what type of property you have is not in how it looks but rather in your intent for use. Based on your intentions, a property you own can be a principal residence, an income property, an investment property or a dealer property. Let’s look at the definition of each. Principal Residence […]
If you are thinking about getting into the landlord business, beginning early is an advantage. A term called house-hacking refers to buying a multifamily property with an owner-occupied mortgage. You then live in one of the units while you rent the other units out to other people. Beginning early means you get a longer time […]
