by Rupe | Sep 4, 2017 | Money Matters, Real Estate, Social-Race Issues
The national conversation in the U.S. is focused squarely on improving the lives of people in the working class. The debate revolves around exactly how to do that. Politicians and pundits have all sorts of ideas, from efforts to save jobs, create tax cuts, subsidize housing, and provide universal healthcare. Thing is, people don’t even agree on how to define the working class, much less how their living conditions stack up across the country. We created a data visualization to illustrate this complex situat
Source: The Working Class Can’t Afford the American Dream
My Comments: Pretty sobering revelations about the direction of the country. Living in Jacksonville, it appears I am in a relatively good position for now.
by Rupe | Aug 30, 2017 | Real Estate
Man cleaning up a tear out of old kitchen during home renovations.
Contractors may be the go-to person during a home renovation, but make sure your homeowner clients avoid these phrases in conversation.
Source: 5 Things to Never Tell a Contractor
My Comments: Interesting set of points made here…
by Rupe | May 24, 2015 | Real Estate
Here’s a hit list of the top 10 home improvements you can do for $10,000 if you’re in your home and planning to stay put for a while.
You don’t have to spend a mint to make your home a happier, more enjoyable place.
For all the focus we put on transactions — buying and selling — the truth is that for most of your life as a real estate consumer, you’ll be a homeowner. And because your home is so much more than just something you buy, it makes sense to spend some portion of your time, energy, and money making it really work for you.
Source: 10 Home Improvements You Can Do for $10K or Less
by Rupe | Apr 26, 2015 | Real Estate
You may own rental real estate that you need to sell at a loss. To help ease the pain, losses from selling rental properties generally receive favorable tax treatment.
First make sure you actually have a tax loss
The recent housing slump has reduced the value of most every form of real estate. You might be looking at loss if you have to sell a rental home any time soon. To determine if you have a tax gain or loss, you will need to compare the property’s sale price to its tax basis. The tax basis is generally your original purchase price, plus the cost of improvements (not counting expenses you’ve deducted as repairs and maintenance), minus any depreciation deductions you claimed while you owned it.
Source: Selling Rental Real Estate at a Loss
My comments: This is really importance stuff since I am contemplating getting rid of a piece of property…
by Rupe | Apr 26, 2015 | Real Estate
Owners of rental property are allowed to deduct depreciation from rental income.
Property owners who rent their dwellings must pay taxes on the income, but they are also allowed to deduct some amounts from their earnings. The primary means of deducting rental income is achieved through depreciating the property. Property is depreciated using the Modified Accelerated Cost Recovery System (MACRS). IRS rules allow depreciation only for the portion of a property used for rental purposes. To depreciate property, you must be the owner of the property. You cannot depreciate a property if you are renting it. Land does not qualify for depreciation; only structures qualify. Continue reading at the source link below…
Source: How to Calculate Depreciation for Rental Properties | Home Guides | SF Gate
by Rupe | Jun 19, 2010 | Real Estate
This is a column by our resident real estate expert Rachelle at the Million Dollar Journey Website.
I have been renting properties in the GTA since about 1997. Here are my hints and tips for selecting the best tenants.
In our current market, if your place isn’t priced properly or is in bad condition you can look forward to bad tenants or periods of vacancy.
Today internet shopping has reached a new level and before people even come to see your apartment they have already shopped it for price, location and appearance. People used to take the first place they could find and now they’ll see many places before they make that buying decision.  Read on >>
