Tag: "hmb cribs"
You might have seen that HMB was in Denver last week doing a 2 day long video shoot. It was kind of rough with the travel, altitude, etc but we got a lot accomplished. What were we shooting? I can’t leak that quite yet but I can give you some free videos of the “out- [...]
Here are some comments about the South Florida market: – the market’s terrible. – stay away ’cause there’s blood in the streets. – nobody’s buying. – prices are still dropping. – Oy (actually, that’s not a South Florida comment, that’s what my Mom says to her friends when they ask about me) These comments were [...]
I found a nice rehab in my area the other day listed at $289,000.00. I calculated the ARV at $425,000.00. It needs $70,000 +/- worth of rehab. I offered the bank $249,000.00. The agent told me they already had multiple offers and turned down a cash offer over $265,000.00. Without getting into a bunch of [...]
If you have been around hard money lending for any time at all, you probably know Leonard Rosen. And if you have thought about getting into hard money lending for yourself, you have most likely considered going to Leonard’s private lending training seminar in Las Vegas. In fact, that is exactly how Hard Money Bankers [...]
Do you get upset when someone un-friends you on Facebook? Maybe I’m too thin-skinned, but I actually feel dejected when someone “un-friends” me – even if I don’t know the person! I happened to check our HMB Facebook “like” tab and noticed that we lost one person last week. Someone who liked us now doesn’t [...]
Well like all things tax code; not always. In fact, many tax professionals get this one wrong too. Further, the same mistake is pervasive on both personal residences and investment properties.
A thorough review of your real property tax bill will reveal the total is the combination of many different items and it is in those details that the answers are buried. Let’s use an example tax record to take a closer look. Our example property was randomly pulled from HUD foreclosure list.
Review of the tax section reveals that the total tax bill is $6,114. The $6,114 is the total of $3,068 State/County Tax, $2,515 City Tax, and $531 Special Tax. There is also a space for Refuse if the local jurisdiction includes that as part of the total.
The requirements to be able to deduct a real estate tax are:
By: Jeff Shiller, Esq. There seems to be a natural progression for a real estate investor: - First, he gets some education, overcomes his fear, and nervously buys his first residential investment property; - After gaining some confidence and doing a few deals, he moves up in volume, gets a web presence, and starts talking [...]
What the broker package makes the property sound like: What the property actually looks like upon arrival:
This week we are going to begin embarking on a journey that starts with the concept of depreciation and leads us to many forks in today’s tax code. We’ll talk about exactly what depreciation is further in the post; but, I want to begin with just how many areas of your real estate business are [...]
This is another hotly debated topic in the world of hard money lending and a question we are asked 20 times per day. I will give you our answer from a hard money lender’s perspective (based on risk and underwriting). If you have questions about your State’s lending laws, please consult an Attorney. Short answer: [...]
I recently drove over to a brand new high rise office building in Potomac, MD at 7am to do an interview with a guy who is well known around the DC area real estate scene for two things: * -Doing a HUGE amount of mortgage loans (both units and volume) AND -Speaking very openly on a wide variety [...]
By: Jeff Shiller, Esq. Or, the alternate title: How To Own a $240,000.00 Prime South Beach Condo For $4 Per Year. Ever since the 1980’s, I’ve been trying to figure out ways to buy a cheap retirement home in Florida so I could wear white clothes year-round and solve crimes in my Ferrari (hold on [...]
How can you get a pile of loot from the bank and not spend time in Club Fed? Easy – don’t get caught! I know I’m a smart ass – but all kidding aside, wouldn’t it feel like you robbed a bank if you picked up one of their REO properties dirt cheap and flipped [...]