A 1031 tax exchange is a legal way to defer paying capital gains when selling a property and then buying a "like-kind" property within the allowed period. The time limits allowed are 45 calendar days after the close of the sale of the first property to identify the like-kind property for acquisition and then close the purchase transaction to complete the 1031 exchange within 180 calendar days. Like-Kind Property The property's broad characteristics determine if it is a like-kind property, not … [Read more...]
Should You Brace For A Potential Market Downturn Next Year?
Don't panic, a looming recession may be good news for those wanting to sell their homes. The experts say this recession may happen in 2020, so there is still plenty of time to make plans for how to deal with a potential economic downturn. In many parts of America, especially in popular cities, the real estate markets are super hot for sellers. Home sales are coming in at prices that are record highs. For sellers in these hot markets, it might be time to sell. For buyers, able to wait until next … [Read more...]
Important Tips To Help Kids Adjust To The Move
Moving takes a certain amount of adjustment. Kids of all ages may need a little help getting used to the new environment. Help kids adjust to the move by keeping the following in mind. Kids Are Resilient Don't overly worry about how your kids will adjust to the move. Kids are resilient. They tend to acclimate to new situations fairly quickly. It may even be that your kids get used to the move before you do! Make Friends With Other Parents You could facilitate your kids' making new friends … [Read more...]
A $400,000 Profit From Flipping A Single House?
Flipping homes is popular once again. It took about eight years after the Great Recession that started in 2006 for home prices to rebound to the levels seen before the recession. Then, by 2016, in many areas, home prices started to rapidly increase. The increases in home prices caused more flipping activity due to the potential profits. CNN reports the average gross profit on a flipped home sold during the past three years was about 50%. In 2017, one real estate speculator took nearly one … [Read more...]
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