The Million Dollar Real Estate Tax Break
Everybody should know that under current tax lawyou can sell your primary residence and any capitalgain up to $250,000 ($500,000 if married) is tax free.Wow... is that powerful!... and why aren't moreinvestors taking advantage if that "loop hole"?The only requirement is that you live in the homefor 2 out of the last 5 years... and it is yourprimary residence. That means you just mustlive in the house 24 months to get the tax savings.What if you match that tax break with a FHA 203(k)loan? Your heart should begin beating faster if you understand the 203(k).
Look at the featuresof this real estate loan...FHA down payment (3%) Flexible credit qualifying Assumable loans Finance up to 6 months of mortgage payments Purchase or Refinance AND IMPROVE all in one loan Upfront mortgage insurance waived Get it?... One single loan is used to pay for the purchase (or refinance) and the cost of renovating the home.Cheap, easy money that not only gives you the abilityto buy the home... but also the money to rehab it...all in one loan!... with no payments for 6 months! The FHA 203(k) loan is available to borrowers of all income levels, but only to homeowners who plan to occupy the property, and for homes with one to four units. Types of 203K Loans: 30 or 15 year fixed rates One year ARMS Assumable to a qualified buyer, with no money down Eligible Properties: Single family dwellings Condominium Townhouse Mixed Use (Storefront) 1-4 Unit buildings- you can increase or decrease the number of units with this loan.
With some leg work you should be able to find propertiesthat will allow you to bank $50-thousand to $100-thousandat the end of every two year period.The two year holding period gives you time to do therehab work. Hey, you gotta live somewhere. Why not turn yourhome into a money machine? Or if you just can't live in a particular home for2 years you'll find other profitable ideas at http://www.ThePowerLetter.com.
Mark Walters is a third generation investor and author. He shares his investing experience from his Web site:http://www.CashFlowInstitute.comReal Estate Calculator Suite Enhanced with More Calculators
Ruston, LA (ContentDesk) August 21, 2004 -- Wheatworks Software, LLC announces the release of Real Estate Calculator Suite 2.3, a Windows?-based collection of 15 real estate calculators which make real estate math easy.If you are stressed by real estate math, Real Estate Calculator Suite can help.
Designed for real estate buyers, sellers and professionals, Real Estate Calculator Suite lets you play with the numbers related to your real estate transactions. Consumers will appreciate the calculator suite's user friendly design, ease of use and "Quick Start" help.
Real estate professionals will be attracted by a comprehensive collection of real estate calculators which provide an easy way to get homebuyers and sellers "in the ballpark".Real Estate Calculator Suite now includes the following calculators:2 Quick Calculators2 Downpayment Savings CalculatorsPopup calculatorMortgage QualifierMonthly and Annual Loan Amortization schedulesLoan Spread CalculatorBiweekly Payment...
Mortgage calculator > Real Estate Calculator Suite Enhanced with More Calculators
GSF Mortgage Company in Schaumburg announces this year?s first family selected to receive money from their Charitable Trust Housing Fund
Schaumburg, IL (ContentDesk) June 20, 2004 -- GSF Mortgage Company in Schaumburg announces this year's first family selected to receive money from their Charitable Trust Housing Fund; a program providing under-privileged families with the down payment to purchase a property and additional money to furnish the home. The selected family, Slobodan and Milanka Lukic and their two daughters, came to the United States three years ago, Bosnian refugees from the former Yugoslavia. The family resides in a two-bedroom apartment in Addison, IL and says they plan to purchase a house in the area. Employees of the Schaumburg based mortgage company contribute money regularly from their own pay to the Charitable Trust Fund. The company executives match the employee contributions which allows "The Trust" to assist at least two families each year to purchase a home.
The company spokesperson says they anticipate helping three, possibly four families in the next twelve months.Anyone who is interested...
GSF Mortgage Company in Schaumburg announces this year?s first family selected to receive money from their Charitable Trust Housing Fund
Mortgage calculator > GSF Mortgage Company in Schaumburg announces this year?s first family selected to receive money from their Charitable Trust Housing Fund