|
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
repo mobile home texasFree access for 7-days, try it out! No strings, no contracts, no hassles and you can cancel at any time. Hurry! Foreclosures sell fast. Visit ForeclosureFreeSearch.com. With virtually every Bank, Government and Institutional Seller you will find your next investment waiting for you. |
|||||||||||||||
3 Mistakes to Absolutely Avoid in a 1031/TIC Exchange Personally, I'm one of those people who prefers to learn from someone else's mistakes. If you're at all like me, and you have thought about doing a 1031 exchange into a tenant in common (TIC) property, take note. You can avoid making the 3 Major Mistakes that others wished they knew before leaping from the frying pan into the fire! Before I let you in on the secrets, let me briefly explain what a 1031 exchange into a tenant in common property is. It's a fairly well-kept secret in and of itself. A 1031 exchange is when an investment property owner sells his current property and exchanges it for a "like-kind" property of equal or greater value. By doing so, he defers the payment of capital gains tax and the consequences of recaptured depreciation. By exchanging into a tenant in common property, or a TIC, he becomes a part owner of a large commercial property managed by professionals, who in turn pay him a monthly income. It comes with fewer strings than private annuity trusts, charitable remainder trusts, or an exchange into another property that still needs your attention and often drains your wallet. I find that very few individuals, CPA's, attorneys, or even financial advisors are sufficiently well versed in the 1031 exchange into a tenant in common property. It can be a terrific deal! Those who benefit most from this type of an exchange usually have several things in common. 1. They own investment property that has appreciated significantly in value. 2. They are tired of all the hassles of property management. 3. They don't want to pay huge amounts of capital gains tax if they sell. 4. They would like to have a significant increase in monthly passive income. 5. And, lastly, they still enjoy the relative stability of owning real estate. Know of anyone who fits this description? If so, read on. There are 3 Major Mistakes that can turn your investment into a nightmare. So, avoid these at all costs when contemplating this type of exchange. Mistake #1: Dealing with an investment company that does not have their act together. If they seem like they don't know what they are doing, run! Look into their history of TIC offerings, and ask for referrals from satisfied clients. Ideally, this should be their only business. Are all their properties "A" grade commercial buildings, or are they somewhat less desirable? Ask how they find the properties and what criteria they use to select them. Quality properties are hard to find and sell out quickly. In real estate, the quality properties will remain more desirable, even when the mediocre properties start to lag. Ask yourself if you would like to have your office in that building, or go to see your doctor there, or if you'd shop in that strip mall. Note: Also be cautious going the private route and getting into Limited Partnerships when only one or two major players make all the decisions. And, unless you have extensive experience in commercial property, don't get together a bunch of your friends and choose this property on your own. Mistake #2: Choosing an Accommodator that has not done many, many of these transactions. This Qualified Intermediary makes sure all the documents and money transfers meet all the IRS guidelines. They will set up your LLC. You must use an Accomodator that you don't already have a relationship with. Your family attorney or estate planning attorney may not qualify. The last thing you want is the IRS sending you a hefty bill for taxes or penalties, or the whole transaction falling through due to an incompetent or inexperienced Accommodator! Mistake #3: Skimping on the property management company. They are extremely crucial to the performance of your investment. You will be depending on them to handle the day to day problems that arise, carry the proper insurance, pay the property taxes on time, and keep your building fully occupied and in tip top shape. This company should offer you a long term triple net lease that has your annual income percentages spelled out, along with scheduled increases. There aren't many out there willing or able to do this. Ask for an accounting of their track record with other properties, how long they've been in business and for a list of any judgments brought against them. See if they've ever requested special assessments, or had any foreclosures. A good management company is worth its weight in gold. You want them to make a tidy profit, because their performance is directly related to your investment stability. Well, there you have it. Don't be "Penny wise and Pound Foolish". This is one time that hiring the best will definitely bring you the most favorable results. It should truly be a win-win situation for everyone involved. By avoiding the 3 Major Mistakes for a 1031 exchange into a tenant in common property, you will be the one saying "I told you so" as you collect your monthly check and watch your investment grow! About The Author: Paula Straub is a Financial Advisor, Insurance Agent and Mortgage Loan Originator in San Diego, CA. She'll teach you how to save thousands in Capital Gains Tax in a free Teleconference . Visit the link: http://www.savegainstax.com
|
||||||||||||||||
Other sites that feature repo mobile home texas
1. Texas used home repo Mobile Home dealer 2. Page 46 | CigarBank.com 3. denali alaskan federal credit union 4. home in mobile rent texas Resources 5. Mobile Home Repo 6. Mobile Home For Sale 7. Mobile home building and safety codes 8. Icici bank Utah home insurance quote 9. Mobile Home Repos Texas austin san antonio repo 10. cheap ocala mobile homes - Masses of information 11. 12. San Antonio Restaurant Coupons 13. Loans Mobile Home 14. sears catalogue canada 15. Bud foreclosure home | foreclosure home 16. Mobile Homes, Manufactured Housing, Mobile Home Parks 17. foreclosure at The Foreclosure Palace 18. Repo Manufactured Homes San Antonio - Investments2c Bussiness Buy Repo Homes 19. Auto Trader 20. home for sale in baltimore maryland 21. Usastart.net - Repossessed Mobile Home Texas 22. www.lenders-site.info Site Map 23. mobile home repos texas 24. Manufactured Home Repossessions Oregon - Foreclosure Home, Foreclosure Listi... 25. Repo mobile home 26. home loan mobile refinancing texas - Get Quotes From Multiple Lenders 27. Willys jeep wagon 28. Foreclosed Mobile Homes For Sale : 29. Where to Find Mobile Home Resources On Line 30. Realtytrack 31. Mobile Homes Loans 32. guiding light screen captures 33. alamosa workmans comp lawyer 34. repo mobile home in texas |
Other Results for
repo mobile home texas
|
|||||||||||||||
| copyright 2007 | Privacy Policy | unitedstates-maps | decks-patios | scuba-snorkel | scholarship-money | government-deals | ||||||||||||||||
