The average length of time for a refinance can vary if they don't have the right documents needed for a mortgage refinance. Q: My husband and I started a refinance late last year with an Internet lender and we are still going through the process. Now, our mortgage broker wants a letter about my husband's [...]
The real estate outlook for 2013 continues to look muddled: While new home sales increased in 2012, the economy still struggles. Each week, pundits step forward to proffer yet another prediction about where the housing market is going. Since 2006, when the housing market began its descent into madness, all we’ve heard that the residential [...]
A 1031 exchange is an investment property exchange process that can assist in deferring taxes. We answer a question here. Q: I currently own two rental properties. The first house is paid off. The second property still has 14 years on the mortgage. I am considering selling the first house because it's not earning all [...]
Look at your investment goals and future plans when considering how to invest $50,000. You may choose to place some money in index funds. Q: Hi, if you had $50,000 in a bank savings account I was wondering how would you invest it. A: That’s not a fair question. Your question implies that I would [...]
This is the time of year for New Year’s resolutions. When it comes to investing, I have some suggestions you might want to consider. Here they are: 1. Fire your broker. I can’t think of any reason to use the typical broker. What do I mean by “typical”? Typical brokers send you analyst reports with [...]
Most people prefer an LLC for real estate investing. But some accountants still recommend that their clients use an S Corporation to invest in real estate. LLC, or limited liability companies, have become the method of choice for real estate investors. Most states have laws that permit the use of limited liability companies or some other company structure that is similar to an LLC.
When you're a real estate investor you may decide you want to create a limited liability company to hold your real estate assets and to protect you. When you use an LLC to hold your properties, you're limited in what kind of mortgage lender you can work with to get a mortgage. Mortgage lenders have to specialize in either residential or commercial real estate loans.