Business Owners Tell Me If You Love Completing Your Taxes. Investment property owners raise your hand. Yes, that time is quickly approaching where each of you out there who owns a business under a business entity such as LLCs taxed as partnerships, C Corps, and S Corps will need to file business taxes. I’m specifically speaking to my investment property owners who hold their assets in these entities. Now as much as I hate to admit it, I’ve never been awesome at being prepared for this. Mostly because I think a lot of people feel it’s a daunting task of what feels like the unknown. I admit, this has never been one of my favorite yearly tasks. The great thing is that the more I practice and surround myself with the right team, it feels empowering. Yes, you read that correctly. My tax plan allows me to feel empowered! The planning that takes place for months ahead then allows me to have greater certainty about this whole “necessary evil.” It provides a way for me to have accountability for the yearly stated goals. If my stated goals include acquiring more investment property or perhaps completing a 1031 exchange then I can include a tax plan throughout the year that is targeted for these outcomes. Now thats power! If you’d like a chance to find out how to prepare a yearly tax strategy, come join me on Friday, January 31, 2020. Drop me an email at email@example.com and I’ll send you all the details!
Charming home on a corner lot with loads of opportunity. Gated corner lot with spacious front yard. Huge front porch to sit on. This single family home boasts two bedrooms and one bathroom. Lovely original fireplace in living room. Convenient indoor laundry room. Two car detached garage. There is an additional separate bonus room and bathroom in back that provides the opportunity for rental income, a home office, a man cave, or a kids playroom. Centrally located with quick 110 freeway access near Vermont and Gage. Create the home of your dreams. Offered at $335,000 Call 1-877-534-7421 Ext. 9104 today to schedule your showing and for more info.
As our population ages, I am continually asked about the benefits of a reverse mortgage. Since a home is the average American’s largest investment and source of wealth, it makes sense that in retirement people may want to have that investment work even harder for them. As the newer trend of “aging in place” gains an even stronger foothold, tools to make this a viable option must be examined. Jamie Hopkins has some great advice on Forbes regarding how retiree’s can make a reverse mortgage a part of their retirement plan.
This just about completely covers the day I had with my newest buyers. It’s okay because I love what I do. No matter what type of buyer becomes my client, we’ll find the right home. Gotta love the life of a Realtor!
What is a VA home loan?
The VA Home loan was established in 1944 as part of the Servicemen’s Readjustment Act signed by President Franklin D. Roosevelt. Commonly referred to as the G.I. Bill, it provided returning World War II veterans with funds for medical care, unemployment insurance, higher education and housing.
Who is eligible for a VA home loan?
Any individual who has served in active duty of any branch of the U.S. military for a minimum of 90 days. Non-active personnel such as individuals who have served in the Reserves or National Guard are also eligible if they have completed six years of service. Spouses of deceased or missing military members are also eligible so long as they have not remarried.
What is the advantage of the VA loan?
It does not require a downpayment and it does not have private mortgage insurance.
What type of home can be purchased with a VA loan?
A primary residence
What is the loan amount allowed on a VA loan?
The loan amount allowed is determined by the area median home prices.
As we celebrate Memorial Day, let us remember those who have made the ultimate sacrifice for our Country and those who continue to serve. Thank you for your dedication and service! Happy Memorial Day!
Divorce is probably not the topic that most people wish to discuss. But did you know that statistics show that from January to March, the divorce rate rises? It is said that the U.S. divorce filings increase by 33% in January. So much that the month of January is known as “divorce month” in legal circles. There are many theories behind this long standing phenomenon. Some say that it is because people do not want to divorce during the holidays. Divorce filings also rise as the economy improves. This is because many couples who could not afford to live on their own find that they can once the economy improves. If there is a family home involved, this also often necessitates the sale of that home sometimes to further reduce expenses or sometimes just so that all parties can obtain a fresh start with fresh memories. But is it possible to sell your home during a divorce AND keep your sanity?
No doubt, the sale of the family home can be a very emotional time, even under happier circumstances, but emotions tend to run at an all time high during a divorce. Such factors create a situation where the right intermediary is extremely important. The short answer to the question is, “Yes, it is possible to sell your home during a divorce and keep your sanity.” Hiring the right Real Estate professional is crucial. Real Estate professionals who work with divorcing homeowners must possess key skills that help mediate and move the transaction along simultaneously.
Have you ever heard the adage, “It’s not what you say, it’s how you say it”? Home sellers would do well to keep this adage in mind when preparing to price their home to sell. What is key is to actually price it to SELL. I thought hard about this today as I finished showing my clients a few homes. After spotting a new listing that I realized was overpriced by a cool $80,000, I actually became a little concerned. I became concerned that this miseducation is part of the reason the real estate market has gone topsy-turvy.
An overpriced seller sends a message to buyers whether they realize it or not. The messages that a buyer leaves with are one or a few of the following:
- I am just testing the market and want to see if I can actually get this amount.
- I am underwater and need to sell at this amount so I do not have to complete a short sale.
- I am not educated on the market and therefore have no idea what I am asking.
- I am unreasonable and will probably be very difficult to work with.
Once a buyer believes that one or any mix of these messages are what the seller intends to convey, then a typical buyer will react in the following manner:
- I will not look at this home because it is too expensive for the current market. (This means the seller will have fewer showings as a result. Fewer showing men less exposure and less exposure means less offers.)
- I have looked at the home and even though it is nice, I do not want to make an offer because I am afraid the seller would be offended by my offer.
- I believe the seller is being unreasonable and will probably be too difficult to work with (See number 4 above).
- I will just go put an offer in on the same home down the street that is priced for the current market. (Mr. Seller your neighbor now thanks you for helping him sell his home).
Remember, much is said without actually using the exact words. When a homeowner means to convey a message that they want to sell and they want to strike a win-win deal, then they will price according to fair market value. Once that message is clearly conveyed, the buyers will pour in and there will be a sale that pleases everyone involved!
IT’S OFFICIAL!! After three days of “roughing it,” we are the WORST camping family ever!! We have been camping with real pros before and survived so we thought we would give it another try by camping in a cottage at Newport Dunes. I should have known that this camping trip would not be like most people’s when my family immediately set up the foldable lounge chair in the living room instead of outside. Day 1 we grilled outside but when the coals went out we opted to cook s’mores on the stove. Yeah…we found an alternative…so anyway, I knew we were in trouble when we awakened on Day 2 and my spouse asked me where the iron was. After actually looking in the closet a hot minute, I remembered that “camping” is probably not synonymous with “ironing.”
Day 2 of “camping” took an even uglier turn when after swimming in the pool (yes, I said pool) a decision was made to venture out to lunch off the camping site. I knew this was a VERY BAD idea. Somehow we ended up having lunch at Nick’s in Laguna Beach (we LOVE Nick’s whenever we are near by). While we eagerly munched away, I knew I had lost my “camping” crew forever! Next a trip for gelato at Gelato Paradiso. Who the heck is “camping” and eating gelato?! Needless to say, I kept shaking my head throughout lunch asking my family if they realized what “camping” means. Oh and please do not let me forget to mention that the “camping” also seemed to lead us on an expedition that yielded a catch of Seven jeans and Adidas tennis shoes (wink, wink…we made ourselves feel better by rationalizing that it was back-to-school shopping). After eating and shopping, my lovely crew decided that they would pick up Panda Express as their evening snack. See how much this sounds like camping? And so ended our day.
Now just to be fair, I will admit that I a horrible time sleeping. I heard things scratching in the wall all night and only prayed that it was my psycho imagination, I also became itchy by night number two. Seems that I am no serious camping maven either…but I really was trying! I think you get the picture by now. Making sure there is wifi available, refusing to swim in the Bay, along with countless other shenanigans can only lead to one conclusion…look for us on a tropical beach vacay next year!
But seriously…(well, I am quite serious, but on another note)….I thought about how this applies when people are looking to purchase a home.
1. Focus on the location that truly appeals to you and of course is within your budget.
2. Keep an open mind and possibly find a way to blend a new concept with an old concept.
3. Remain flexible. Even though things may not go exactly like you plan in your head, they may just make you smile in the end.
Who Said Camping Wouldn’t Be Good For You?
Ever had your driveway thrashed after the work crew drives away? This just happened to me. I hate oil stains in the driveway! Next time a work crew leaves you with a “parting gift,” try a solution of hydrogen peroxide mixed with blue Dawn dishwashing liquid. The best stain remover ever! Not to mention it’s great on any other stain you might encounter.