Real Estate

I know right now is a bad time for the price of a house, but does anybody know what city (cities) give the best return when buying a house in a normal market?

san francisco

Golfer and now entrepreneur Tiger Woods interview with Scott Wapner about his investments in real estate and the stock market

Duration : 0:5:25

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interested in buying another house but afraid that my other house wont sell before i close on the other one. i cant afford 2 mortgages, yet it seems people do this all the time. how do they do that?

Better idea is to get a bridge loan from your lender. Anyone who will buy the house under the conditions you are stating will offer you a very low amount. Real Estate people will be very happy fo offer you 50% of what the house is worth and then flip it at a higher price to someone.

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If I purchase realestate, (residential duplex) to rent out for investment purposes, can I write off the closing costs?

Absolutely! In fact, your escrow company will send you a statement at the end of the year to give to your accountant.

Need 2 bedroom home to rent or buy.What about daily living expenses like or less than us
how about apartment all need to be near the ocean

Prices can vary a lot, you need to establish what your budget is for renting or buying, they vary from $300- $2000 a month to rent , to buy you can say between US $50,000- 2 million.

Lic.Gregory Kearney Lawson.

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Mother put in childrens names. She died 2005 house was in childrens names in 1989. Should it be done as a sale of realestate or would it be considered an inheritance? The house was sold for 30,000.00 less than the appraised value.
Was sold for 100,000.00 leaving approx 30,000.00 to each child. I do taxes for people who cannot afford to have their taxes done by the bigger companies. I have only about 50 that I take care of each year. I have never run across this situation before. I need your help!!!!

If the house was already in the children’s names, then there was no inheritance. Therefore it would be considered a sale of real estate. I believe the basis of the house would have been the basis on the date of the transfer, not the appraised value. Don’t forget to add the cost of any improvements to the original basis.

For more information go to the IRS website and download Publication 523 – Selling Your Home. If that doesn’t help, call the IRS directly.

Real Estate Investing Fundamentals

Investor and Wealth Building Video Series

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•Actual links to free foreclosure websites
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I heard about a good auction at 777 Punchbowl. Do you know a useful website for current information about that? How did you get in?

For Sheriff’s Sales, foreclosures, tax sales and judicial sales as well as any other sales a county or state may have, you’re going to discover every county in every state/province/territory operates and does things a little differently than the one next to it – even when its in the same state or province.

It requires LOTS of time and diligence.

This is what I learned:

The best suggestions I can offer:

For the work which NEEDS to be done BEFORE the sale, there really isn’t any website.

1] Go to your county court house to the Sheriff’s Office. You might even be able to get the info you need on-line BUT there may be a charge for the on-line access.

2A] It doesn’t make any difference whether you live in a large city or a village/borough, make the investment of time to go to the County Court House or City Hall. Visit the Recorder of Deeds Office/County Clerk’s Office or whatever the office is referred. The names are different, but the Office’s function is the same: to record ALL REAL property documents.

The ladies and gentlemen in the City Hall or Court House are there to help the folks who come there to do business and take care of various matters about that city or county.

3A] Ask for the rules for Sheriff’s sales and foreclosures. AND ask for the information you need to participate and bid on property. Ask for a list or if they are hanging on the wall, grab one or two.

3B] JUST for practice you’ll need a specific, actual address – even if its your own, a friend or relative living in that same county or city. The property owner’s name would be very helpful. Ask an employee in that office how to research a property. Write down and/or remember each of the steps you are shown.

3C] After being shown what to do and how to do it, research the one or two properties you have at the Recorder of Deeds Office/County Clerk’s Office.

If you get stuck, ask for help.

4] If you are able to do the research, attend AT LEAST 3 of those Sheriff’s Sales. You aren’t going to bid on any property. You aren’t going to buy any property. You are there STRICTLY as an observer. You want to see how the process works.

5] At the sheriff’s sales and foreclosures, you’ll probably see the same faces at sale after sale.

Offer to take one of those folks to lunch or dinner and discuss your intentions.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!