http://REItips.com – Wholesaler Bob Norton shares some great tips on making effective offers and building loyalty with REO / foreclosure agents.
Duration : 0:7:29
Members of Common Ground are determined to reverse the trend of foreclosure filings. They want to do more than spread awareness, they want to take action and their main targets are large national banks.
Duration : 0:1:50
An emergency ordinance to be voted on Thursday night will protect some metro citizens from tripled property taxes.
Duration : 0:1:50
The 1099-B form from my brokerage firm shows a short sale as a sale proceeds amount and therefore IRS is going to treat it as a gain. But I didn’t buy to cover the short sale of stock.
If you are able to defer the reporting of gain or loss until the year the short sale closes, you will need to attach a statement to your Form 1040, Schedule D explaining the details of your short sale and that it has not closed as of the end of the year.
This will allow you to reconcile your Form 1099-B to your Form 1040, Schedule D and still not recognize the gain or loss from the Short Sale. Include your name as it appears on the return and your social security number.
I need some good advice on whether I should start my California-based Real Estate Investment company as a sole proprietorship, a partnership of some sort, or some kind of a corporation. The general purpose of this company is to purchase and rent out residential and commercial real estate. Any help would be greatly appreciated.
I’m in the same boat and looking to buy my first property as well.
I set it up as an LLC.
Sole Proprietor is generally a bad move in my opinion as it offers no protection of personal assets should something happen to that property.
If you want to send me an email through the system here, I’m more than happy to chat about what I’ve done, who I’ve talked to, and what contacts I’ve made.
