Posts Tagged taxes

In THIS Economy, WHY Target the Mortgage Tax Deduction????

August16
"Everybody Wants to go to Heaven" - Kenny Chesney It's obviously going to be a Herculean task for Congress to balance the budget and reduce the deficit. It's sort of like the country song lyric that goes "everyone wants to go to Heaven but nobody wants to go now." It is estimated that the mortgage interest deduction cost the government $100 Billion last year which is why it is a target for cuts. The Mortgage Interest Deduction has been part of Income Tax laws in this country since 1913. The United States of America is one of the few countries in the world that allows such a deduction. … Read More

The Times They are A-Changing for Real Estate Investors!

August9
The Times They are A-Changing - Bob Dylan I continually write (or is it whine) about the constant changes and new restraints regarding real estate mortgages.  It seems that banks don't REALLY want to lend money?  I know this is whiplash from the years of unrestrained lending practices, but they are often punishing the wrong people.  I also constantly mention that real estate can be a great addition to any financial portfolio!  It's all about diversification!! There are new rules and guidelines from Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loa… Read More

Making Hay While the Sun Shines! (or the making of an investment)

July5
Sam Cooke "Chain Gang" I have a new duplex project and my partner and I have been planning, preparing and putting in some hours.  This is not nearly the scope of a remodeling project as our last two duplexes; where we had to refinish hardwoods, gut kitchens, add insulation, replace sinks, extensive prep/painting & more.  All the same, it takes a bit of imagination, time & energy.  This new investment is a substantial 1940's side-by-side duplex in another superb neighborhood that has been basically maintained, occasionally upgraded and obviously loved!!  The hardwoods on both l… Read More

Any Downsides to Paying Cash for Real Estate?

June28
Lady GaGa "Money Honey" You hear the term "Cash is King" thrown around these days.  Having a certain amount of liquidity with your savings, mutual funds, money markets, etc is one example.  Paying cash for real estate is another case in point.  Sometimes a cash offer will most certainly prevail in a real estate situation with multiple offers.  The sellers don't have to worry about stumbling blocks such as low appraisals or last minute credit glitches with the borrowers' loan or the appraiser insisting on repairs after the property inspection has already been negotiated.  These are r… Read More
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