When you buy property with a partner and you're not married and you haven't signed a partnership agreement, it can be difficult to undo the transaction. To get your name off of a mortgage for a property that you no longer own or live in you need to have the other person refinance the mortgage or sell the home. If the other person refuses to refinance or sell, you may need to go to court to force a sale of the property.
One type of real estate investment is wholesale selling. Wholesale selling is another expression for the practice of buying real estate and flipping it intentionally below its cost in order to move it quickly. Wholesale real estate transactions usually take place between real estate investors, not your regular home buyer and seller.
With an estimated 15 million Americans owning investment property, more people are using 1031 tax-free exchanges in order to defer capital gains. A 1031 exchange is a provision in the Internal Revenue Code that permits an owner of investment property to sell the property and buy a new property without having to pay any taxes on the sale of the old property. To use a 1031 exchange, an investor must comply with strict rules relating to the use of the proceeds from the sale.
On the Ilyce Glink Show today, I talked about how some lenders are talking about issuing 50-year mortgages. What's that about? Some lenders currently ...
Ilyce starts her radio show talking about very long-term mortgages. Ilyce then takes calls on real estate, personal finance and consumer issues topics -- from paying for home remodeling to using retirement money to pay off a mortgage.
I'm often asked how I choose topics for columns. Honestly, sometimes I'll read something in a newspaper, magazine or online and it sparks an idea. Or...
A property owner who inherited a 160-acre ranch has the opportunity to sell the property at considerable gain and wants to know if a 1031 exchange can be used. A 1031 exchange can be used by real estate investors when selling one investment property to buy another and defer federal taxes on the property sale. A 1031 exchange may not be used for a primary residence. A 1031 exchange can be used when dividing property, but speak to a 1031 exchange expert first.
Paying off your home early will have you sitting pretty to save for retirement. If you are in the position to live house-payment free (except for your property tax bill each year), that will give you a lot of extra cash to put away for your retirement. Continuing to invest in real estate can also give you big returns and add to your retirement pot.
A prospective home buyer has spotted a home with a sign stating it is for (Whole) Sale. When it comes to selling a home, wholesale isn't usually an option. Listing the home as wholesale could be a marketing technique.
