While many of the events of last year were unpredictable and unprecedented, we’re now at the time of year when we need to address a very predictable and recurring event: paying your taxes. If you’re a real estate investor, there are numerous deductions you can claim, including some you may not be aware of.
Before I get into the particular deductions, my number one piece of advice is to hire an experienced CPA. While it may be tempting to save some money by doing your own taxes, real estate tax law is extraordinarily complex and you could easily wind up paying more than necessary. It will be well worth your time and money to hire a CPA to make sure you follow the best approaches for your deductions and you take advantage of all of them.
Finding the Right Short Sale Property
If you’ve been considering an investment in real estate or buying a home, you may have found yourself looking at short sale listings. But what exactly is a short sale? A short sale occurs when a lender allows a homeowner to sell their property for less than they owed on the existing mortgage. This process allows the lender and the homeowner to avoid the lengthy and costly foreclosure process. Unlike regular home sales, in a short sale, the lender is actually the one approving the sale
To join Ken’s newsletter, follow this link: https://www.kenmcelroy.com/newsletter — Join Ken McElroy as he discusses acquiring properties with MC Companies’ Director of Acquisitions, Bobby Bull.
Join Ken McElroy as he talks with Mike Ayala and Andrew Lanoie from Four Peaks Capital Partners (https://www.fourpeakspartners.com/) as they talk about mobile home investors are ahead of the curve on the affordable housing issue.
Join Ken as he talks with Lesley Brice, who is his partner running his property management company, MC Companies. They talk about an example property management agreement with a close examination on the fee structure.
Primary markets as most of you know are suffering. What we are seeing is a lot of secondary markets by the big cities are heating up as the cities cool down. For example, as Washington DC cools, Virginia Beach heats up. Same with San Francisco -> Sacramento and Los Angelis -> Riverside. The truth is, these more expensive cities were already at their tipping point prepandemic. The pandemic only accelerated it.
Real estate investing is going to get a bit trickier and take it from me you want to have a true “expert” leading you in your journey. I wanted to share with you some common mistakes I see investors making when they first start out in real estate.
Join Ken McElroy as he talks with Jon Rosenberg about whether or not investors should self manage their commercial properties.
Join Ken McElroy as he answers your questions relating to real estate, raising capital, and the book that has had the most impact on him.
I see this misconception happen all of the time. “Well my realtor says ____________ about the market.” That blank is always something like “Buy now or you’ll miss out” or “The market won’t go down anytime soon” or my favorite “This isn’t 2008.” Yet, guess what? Realtor’s were saying that in 2008 as well ha.