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Income Tax

Income Tax, Tax Services / 15.10.2014

  Boulders: Sourcing the money: Unlike conventional lending, for commercial property purchases you need to source at least 25% for a down payment. In my experiences, most lenders asked for 30-35% down payment in order to secure financing. This was news to me as I was only prepared to put down 20%. I strongly encourage you to work with multiple financing sources and start your process as early as possible, as it can be a lengthy and frustrating one. I began the process by working with a broker, until I learned that the terms, fees, and down payment terms were not in-line with my expectations. This was two weeks into the process when I decided to look for a new source of financing.
Income Tax, Tax Services / 15.10.2014

I started my career in real estate like most do, reading books. I read everything from residential to commercial, books for real estate agents and for regular investors, learning a lot in the process. It wasn’t until I handled my first real commercial deal that I put that knowledge to the test. I was in for a shock. There isn’t a better teacher than experience. With that in mind, I wanted to share my inside experience with the readers, and pass along some valuable lessons I learned along the way. Pebbles: Understand your local real estate market and explore the fundamentals of commercial real estate investing. I can say this was the easiest step in my journey. I spent countless hours perusing MLS and driving around the neighborhood in search of properties and evaluating the area.
Income Tax, Tax Services / 07.05.2014

If you make under $200,000 a year, your chances of getting audited by the IRS are just above 1%.  Some people like those odds and take a chance by screwing around on their annual tax returns.  Does this mean you can get away with cheating on your taxes? Absolutely not.  The IRS uses sophisticated computer algorithms to decide on which returns to audit.  If your return looks strange, your chances of being audited go way up.