Comments for Florida Real Estate Investing Training http://www.florida-real-estate-investing-training.com Sat, 13 Mar 2010 03:04:46 +0000 http://wordpress.org/?v=2.5.1 Comment on Real Estate Taxes by newjerseyguy http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-507 newjerseyguy Sun, 28 Feb 2010 12:25:59 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-507 Your lender will send you a 1098 for interest and taxes paid in 2007. If you did not actually pay property tax in 2007, you cannot claim it.<br><b>References : </b><br> Your lender will send you a 1098 for interest and taxes paid in 2007. If you did not actually pay property tax in 2007, you cannot claim it.
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]]> Comment on Real Estate Taxes by Doctor Deth http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-506 Doctor Deth Sun, 28 Feb 2010 12:23:59 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-506 you can't file a form 1040a if you want to deduct real estate taxes and mortgage interest - you have to file the 1040 long form and those items get listed on Schedule A<br><b>References : </b><br> you can’t file a form 1040a if you want to deduct real estate taxes and mortgage interest - you have to file the 1040 long form and those items get listed on Schedule A
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]]> Comment on Real Estate Taxes by Cupid http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-505 Cupid Sun, 28 Feb 2010 12:21:59 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-505 If you refunded real estate taxes to the seller in your closing statement, then you deduct the amount you refunded them.. do you know the amount? Look on your closing hub and it should display the amount allocated to property taxes. Anything paid in 2008, cannot be deducted in your itemized until next year. Best Wishes!<br><b>References : </b><br>Same thing happened to me when I bought a home, the reimbursement was deductible. If you refunded real estate taxes to the seller in your closing statement, then you deduct the amount you refunded them.. do you know the amount? Look on your closing hub and it should display the amount allocated to property taxes. Anything paid in 2008, cannot be deducted in your itemized until next year. Best Wishes!
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Same thing happened to me when I bought a home, the reimbursement was deductible.

]]> Comment on Real Estate Taxes by v b http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-504 v b Sun, 28 Feb 2010 12:19:59 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-504 So far you haven't got any property taxes to itemize. The amount you paid at closing is part of your basis. (Actually, I think the seller reimbursed you if he paid through 12/31.) The amounts paid in 2008 are 2008 taxes.<br><b>References : </b><br> So far you haven’t got any property taxes to itemize.

The amount you paid at closing is part of your basis. (Actually, I think the seller reimbursed you if he paid through 12/31.)

The amounts paid in 2008 are 2008 taxes.
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]]> Comment on Real Estate Taxes by petersruby20 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-503 petersruby20 Sun, 28 Feb 2010 07:17:18 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-taxes/#comment-503 <b>How do deduct real estate taxes on 1040a?</b><br>I purchased a home in October, 2007. My monthly mortgage payment includes my county, state, and school taxes (they are placed in Escrow). Apparently my tax payments will be paid out of escrow in April, May and August of 2008. Does that mean that I can not claim real estate for my 2007 return? (At closing, I did have to reimburse the seller for real estate taxes he had already paid up to Dec. 31.) How do deduct real estate taxes on 1040a?
I purchased a home in October, 2007. My monthly mortgage payment includes my county, state, and school taxes (they are placed in Escrow).

Apparently my tax payments will be paid out of escrow in April, May and August of 2008.

Does that mean that I can not claim real estate for my 2007 return?

(At closing, I did have to reimburse the seller for real estate taxes he had already paid up to Dec. 31.)

]]> Comment on Real Estate Markets in Danger by kagahto1 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-markets-in-danger/#comment-502 kagahto1 Mon, 22 Feb 2010 11:45:59 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-markets-in-danger/#comment-502 not exactly, what is happening with the US right now is that they are doing a tactic in the economy that almost killed Japan 20 years ago. they are lowering the value of the dollar on purpose for several reasons but mainly to bring down the chinese economy since they are the top creators of products for the US, dont think to much about it either, the stock market is but a little game that people play, its the resources that you need to look at that determine the stock market and the economy,...its all bull hockey<br><b>References : </b><br> not exactly, what is happening with the US right now is that they are doing a tactic in the economy that almost killed Japan 20 years ago. they are lowering the value of the dollar on purpose for several reasons but mainly to bring down the chinese economy since they are the top creators of products for the US, dont think to much about it either, the stock market is but a little game that people play, its the resources that you need to look at that determine the stock market and the economy,…its all bull hockey
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]]> Comment on Real Estate Markets in Danger by advait0 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-markets-in-danger/#comment-501 advait0 Mon, 22 Feb 2010 06:43:07 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/real-estate-markets-in-danger/#comment-501 <b>Is is true that a decline in the US Economy and Stock Maket would mean a decline in the "Global Economy"?</b><br>The ripple effect of the US real estate market showed the dangers of investing even in the United States' market. If the US economy continues to decline, and the stock market plummets even to the level of a stock market crash will this send the global economy into a downward spiral as well? I have read and heard that this would happen? Is is true that a decline in the US Economy and Stock Maket would mean a decline in the "Global Economy"?
The ripple effect of the US real estate market showed the dangers of investing even in the United States’ market. If the US economy continues to decline, and the stock market plummets even to the level of a stock market crash will this send the global economy into a downward spiral as well? I have read and heard that this would happen?

]]> Comment on Net Lease Real Estate Investments by brian http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/net-lease-real-estate-investments/#comment-500 brian Thu, 18 Feb 2010 09:04:59 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/net-lease-real-estate-investments/#comment-500 Cap rate of 6.5% on a NNN lease is not bad, especially since 95% of your responsibility with the property is taking the check from your mailbox to the bank. I would consider putting less down if possible, increasing your CCR (cash on cash return). Having an attorney look over the documents is a good idea, especially if he/she doesnt charge you $800 for some light reading on the office sofa. Setting up and LLC is a good idea simply to limit your personal liability (you dont want to be sued personally for someone falling on the ice in the middle of the parking lot. Look at the area of town....does this store bring in good customers or is there possible damage to your building because of problematic people?....what about traffic flow...can people get to the store easily?..Is it on a hard or soft corner?...... Happy Investing<br><b>References : </b><br>Indianapolis Realtor / Real Estate Investor Cap rate of 6.5% on a NNN lease is not bad, especially since 95% of your responsibility with the property is taking the check from your mailbox to the bank. I would consider putting less down if possible, increasing your CCR (cash on cash return). Having an attorney look over the documents is a good idea, especially if he/she doesnt charge you $800 for some light reading on the office sofa. Setting up and LLC is a good idea simply to limit your personal liability (you dont want to be sued personally for someone falling on the ice in the middle of the parking lot.
Look at the area of town….does this store bring in good customers or is there possible damage to your building because of problematic people?….what about traffic flow…can people get to the store easily?..Is it on a hard or soft corner?……

Happy Investing
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Indianapolis Realtor / Real Estate Investor

]]> Comment on Net Lease Real Estate Investments by d-man72 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/net-lease-real-estate-investments/#comment-499 d-man72 Thu, 18 Feb 2010 04:02:27 +0000 http://www.florida-real-estate-investing-training.com/florida-real-estate-foreclosure/net-lease-real-estate-investments/#comment-499 <b>Commercial Real Estate (NNN leased proeprty) Investment advice?</b><br>Hello. I am considering investing in a retail property that is NNN leased to a very solid national tenant (7-11). This would be my first commercial real estate investment and wanted to obtain some advice. 1) The property is leased for 10 years with 3 5-year renewal options. Rent escalation are 10% every five years with current cap rate of 6.5%. Is this a reasonable price for a NNN property? 2) In looking at my returns, what should I assume as my interest rate and closing costs. I'm assuming a interest rate of 6.5% - is this reasonable? I have excellent credit and am willing to put 20-25% down. 3) What other initial costs might I incur? I'm thinking maybe attorney fees to review the current lease and the cost of setting up a corp or llc. Am I overlooking anything? 4) What other costs might I incur on an ongoing basis? I've just thought about attorney and accounting fees - am I missing anything? 5) Any other gotchas or things I should be aware of? Thanks for your help. Commercial Real Estate (NNN leased proeprty) Investment advice?
Hello. I am considering investing in a retail property that is NNN leased to a very solid national tenant (7-11). This would be my first commercial real estate investment and wanted to obtain some advice.
1) The property is leased for 10 years with 3 5-year renewal options. Rent escalation are 10% every five years with current cap rate of 6.5%. Is this a reasonable price for a NNN property?
2) In looking at my returns, what should I assume as my interest rate and closing costs. I’m assuming a interest rate of 6.5% - is this reasonable? I have excellent credit and am willing to put 20-25% down.
3) What other initial costs might I incur? I’m thinking maybe attorney fees to review the current lease and the cost of setting up a corp or llc. Am I overlooking anything?
4) What other costs might I incur on an ongoing basis? I’ve just thought about attorney and accounting fees - am I missing anything?
5) Any other gotchas or things I should be aware of?

Thanks for your help.

]]> Comment on Desperate for Money? Try Asking! by Amer http://www.florida-real-estate-investing-training.com/free-foreclosure-listings-florida/desperate-for-money-try-asking-2/#comment-498 Amer Tue, 16 Feb 2010 10:48:59 +0000 http://www.florida-real-estate-investing-training.com/free-foreclosure-listings-florida/desperate-for-money-try-asking-2/#comment-498 Hard life<br><b>References : </b><br> Hard life
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