How long should you hold a real estate property?

February 20, 2012  //  Posted by: cooldude  //  Category: Real Estate & Tax

Firstly you need to consider certain factors before you buy a real estate property. If this first step is taken in the right way, you will be able to judge whether how long should you be holding to the property you own. You need to keep an eye on the real estate market to know the trend of increase and decrease of properties. Your property may be growing pretty fast in its value depending on its location. You need not sell the property if you do not require funds and the value is steadily growing.

You have to consider the condition of your property in this regard. If you have not been maintaining your property, it would be a better idea to sell it off before its condition becomes worse and ultimately you get far less than what you had expected out of it. In an emergency need of funds, you should sell it off if you are getting a considerable amount.

What Is Real Estate Probate

February 14, 2012  //  Posted by: cooldude  //  Category: Real Estate Rumblings

Real estate probate is a very serious issue that involves many legal tangles and needs to be cleared as fast as possible. A real estate probate occurs when a person passes away leaving some assets that needs to be divided among their heirs. The most common problems occur when there is no will left by the deceased person or there is no trust defined to carry out the probate work. The process of dividing the legal properties of the person then becomes a very long drawn and complicated process.

If there is no will or trust at the time of death, a legal entity then takes over the assets of the deceased including all the cash and real estate. This is done to get all information about the assets and account for the tax due on them. A probate lawyer in a probate court is assigned to take care of this process and finalize the transfer of assets to the heirs.

Buying and holding real estate for long time vs. flipping

February 11, 2012  //  Posted by: cooldude  //  Category: Real Estate & Tax

The real estate business owners often flip their contracts quickly right after getting attracted by the attraction of fast money. Flipping your deals is no doubt a great means in order to conduct a good living. Those who flip their contracts are known as wholesalers. Now let’s discuss about a couple of advantages of flipping your deals.

First of all you can pay the minimum amount of money in the contract and it can be as low as even $10. Moreover no chance of risk is impending on you if you are not flipping your deals and finally you can have bulk amount of money in your wallet within a very short period of time. Though there are a number of drawbacks of flipping your deals which should also be contended with. Among which you have to be always dependent on the buyers in order to close your deals, and the amount of your profit is really less if contracts are not flipped.

3 step rental property investing strategy

February 05, 2012  //  Posted by: cooldude  //  Category: Property Investments

Rental property is a very good investment decision and investment in this avenue can serve you a long time and generate lifelong results for you and your family. Rental property is a very good source of income in future years. Before you acquire a property it is important to chalk out a plan and formulate a strategy.

First target the area where you would like to hold the property. Get detailed information about the property available in that area and chalk out the type of property you would like to invest in. If you are a small time investor then you can go through the old 2-4 units multifamily properties from which you can derive comparatively higher rental income. The vital three steps of your investment strategy would be to:

  • Ascertain the time horizon and the objective.
  • Ascertain your preferred property type.
  • Ascertain your area of target.