Posts by Tom Tinsley
1031 Exchange
By utilizing the selling proceeds to buy a property that is similiar to the one being sold, an investor can use a 1031 exchange, sometimes referred to as a like-kind exchange, to postpone paying taxes on the sale of an investment property. The general procedure for a 1031 exchange is as follows: Decide which property you…
Read MoreReverse 1031 Exchange
A variation on the standard 1031 exchange known as a reverse 1031 exchange, also known as a reverse like-kind exchange, enables an investor to buy a replacement property before selling the original property. The usual procedure for a reverse 1031 exchange is as follows: Set up a purchase agreement with the seller for the property…
Read MoreFair Housing Overview
The Fair Housing Act is a federal law that prohibits discrimination in the sale, rental, and financing of housing based on race, color, national origin, religion, sex, familial status, and disability. It applies to most housing and housing-related transactions and is enforced by the Department of Housing and Urban Development (HUD). It is illegal to…
Read MoreTop 20 Real Estate Tax Deductions
It’s crucial to be aware of the tax breaks available to you as a real estate investor so you can minimize your tax liability. The top 20 tax deductions that you might qualify for are shown below: 1. Mortgage interest: Those who invest in real estate can write off the interest they pay on loans…
Read MoreTop 20 Reasons to Hire a Property Manager
For landlords and property owners, working with a property management company has several advantages. The following are the top 20 benefits of selecting to work with a qualified property management company: 1. Tenant selection and screening: Home management firms manage the tenant selection and screening process, making sure that only trustworthy and competent renters are…
Read MoreTop 10 Insurances to Consider
It’s critical for landlords to have the appropriate insurance coverage in place to safeguard themselves and their properties against any threats. Here are the top 10 insurance categories that any landlord should think about: 1. Property insurance: This kind of coverage pays for damage to your home or other property caused by calamities like fire,…
Read MoreFHA Loans Overview
Particularly for first-time buyers or those with lesser credit scores, FHA loans are a popular alternative for homebuyers. The Federal Housing Administration (FHA) insures these loans, thus in the event of a borrower default, the FHA will make payment to the lender. Because of the additional security, FHA loans are less risky for lenders, enabling…
Read More203K Loan Overview
Homeowners can use a single loan to pay for both the purchase and rehabilitation of a property using a 203K loan, sometimes referred to as an FHA 203K loan. The Federal Housing Administration (FHA) insures these loans, which are accessible to both first-time homebuyers and current homeowners. One of the main benefits of 203K loans…
Read MoreVA Loans Overview
Veterans and active military personnel frequently choose VA loans when purchasing a home. There is no required down payment and no private mortgage insurance with these loans, which are supported by the Department of Veterans Affairs. When you are initially buying a home, it is one of the finest times to obtain a VA loan.…
Read MoreConventional Loans Overview
Conventional loans are a kind of mortgage that the government does not insure or guarantee. They are thought of as a more conventional alternative for financing a house purchase and are frequently provided by private lenders and banks. The fact that conventional loans often have cheaper interest rates than government-backed loans like FHA loans is…
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