Taxes | Paces Funding

27 11, 2021

What Is a Tax Sale Property?

Paces Funding2021-11-14T00:46:02-05:00November 27th, 2021|Categories: Real Estate, Selling, Taxes|Tags: Income From Tax Sale Properties, Tax Lien Sale, Tax Sale Property|

Usually when you’re looking to purchase a house you don’t want one that has a tax lien, but such a home can be purchased through a tax sale. So how do tax sales work? There are two kinds of tax sale homes: a tax lien sale home and a tax deed sale home. Each involves homes that have unpaid property taxes. During a tax lien sale a lien is auctioned off to the highest bidder. That bidder then has the right to collect the lien, as well as interest, from the homeowner. If the homeowner can’t pay the lien the

18 04, 2019

3 Sustainable Property Upgrades To Maximize Millennial Interest In Your Flip

Paces Funding2024-06-17T12:41:26-04:00April 18th, 2019|Categories: Flipping, Home Improvements, Home Upgrades, Taxes|Tags: hi-tech thermostats, reclaimed wooden floors, solar investment tax credit, solar panels|

Millennials are the largest group of homebuyers and they have a strong tendency to be attracted to homes that have sustainable upgrades. Here are three sustainable property upgrades that really appeal to the eco-conscious Millennial homebuyer: Heating & Cooling Upgrades Hi-tech thermostats are incredibly appealing to most Millennials. Nearly half of all energy use in the average US household is attributed to heating and cooling. Hi-tech thermostats help reduce these energy costs. Before paying for a hi-tech thermostat, check with your energy provider. Some offer low cost, incredibly energy conscious thermostats and they will install them for you. Insulating your

11 03, 2019

Can You Guess What The Freest State In The Nation Is According To Recent Survey?

Paces Funding2024-06-17T12:41:37-04:00March 11th, 2019|Categories: Hard Money, Investing, Investment, Investment Properties, Investments, Leases, Leasing Your Property, Real Estate, Taxes|Tags: Florida apartment buildings, Florida investing, Florida investment properties, Florida landlords, Florida taxes, property insurance in Florida|

Real estate investors take note, A Cato Institute survey just ranked states in the order of how free they are. Specifically, the study examined how each state's policies promote freedom in the personal, fiscal and regulatory spheres. The designation of "freest state in the nation" goes to Florida. Florida actually earned seven top ten rankings, four number one rankings and the overall number one ranking. So what's so free about Florida? Florida's less restrictive policies have promoted economic growth. These policies have hundreds of people flocking to the state every single day looking for more opportunity. Taxes in Florida are

19 02, 2019

Why The Luxury Market Might Be Your Best Investment For House Flipping Right Now

Paces Funding2024-06-17T12:41:44-04:00February 19th, 2019|Categories: Business, Due Diligence, Flipping, Foreclosures, Hard Money, Hard Money Loans, Home Improvements, Investment, Investment Properties, Investments, Rehab Loans, REIs, Short Sales, Taxes|Tags: benefits of flipping luxury homes, flipping luxury homes, Florida house flipping, Florida luxury home market, House Flipping, house flipping market, luxury home flipping, luxury homes in Florida|

House flippers focusing on flipping luxury homes are a part of a rising market. While non-luxury houses aren't flipping as well, this market, if you can afford it is still doing well. Consider that the National Association of Realtors showed that sales of existing homes declined over ten percent in the last year. Starter homes, which are usually a common project for house flippers, are part of a decreasing market. Sales are just down among starter homes. Some of that is because of the higher interest rates too. Many people who house flippers would normally try to sell a starter

18 12, 2018

Don’t Miss Out On Credits/Rebates/Deductions For Your Property Upgrades

Paces Funding2024-06-17T12:42:01-04:00December 18th, 2018|Categories: Hard Money, Taxes|Tags: Energy Efficiency, energy tax credits, Filing Your Taxes|

A surprising number of landlords and business owners fail to claim tax credits and rebates for their energy-efficient or property upgrades. Don't let that happen to you! Manufacturers' Rebates For Energy Efficient Products Make sure that, despite all the chaos of house flipping or renting, you claim your manufacturers' rebates for any qualified products. Many energy-efficient products offer energy-efficiency credits. That's cash in your bank account. Don't miss out! Check your receipts, because the rebates are generally written on them if purchased from a big box store. Also, check out this handy webpage to search for rebate offers in your

13 08, 2018

With An Out-Of-State LLC, You’ll Need A Registered Agent

Paces Funding2024-06-17T12:45:08-04:00August 13th, 2018|Categories: Business, Investing, Investment, Investment Properties, Investments, Lawyers, Real Estate, Taxes|

If you live in a state that is a bit unfriendly to small businesses, you might have considered just forming your LLC in a state that isn't. Investors do this frequently. Here's the thing though: If you intend to form your LLC in a state that is more friendly to small businesses like small real estate investment companies, you will need a registered agent. That's your legal obligation. What does that mean? Well, if your LLC is registered in another state, you have to have someone in that state to handle all of your LLC's legal and tax documents, and

12 07, 2018

How A Cost Segregation Study Helps Real Estate Investors

Paces Funding2024-06-17T12:45:23-04:00July 12th, 2018|Categories: Hard Money, Income, Investing, Investment, New Home Development, Real Estate, Taxes|Tags: cost segregation, depreciation, Investment Properties|

A cost segregation study can identify and reclassify your property, with the benefit of shortening the property's depreciation time. What happens when the property's depreciation time is reduced, as you probably know, is that your current income tax obligations also reduce. Using this tool, the IRS allows to to speed up the depreciation on certain things such as carpet or cabinets, and even light fixtures and flooring in a building. That way, you can enjoy tax savings sooner! So why doesn't everyone do a cost segregation? Well, the cost of it is not cheap. So, only investors with significant property

8 07, 2018

How You Can Use A Section 1031 Exchange To Defer Taxes Indefinitely

Paces Funding2024-06-17T12:45:25-04:00July 8th, 2018|Categories: Investing, Investment, Investment Properties, Lawyers, Taxes|Tags: capital gains tax, Qualified Intermediary, Section 1031|

Real estate investors can use IRC Section 1031 to postpone paying tax on the gain if they reinvest the proceeds in a similar property. This doesn't mean that it's tax-free, but it does postpone the tax. Plus, they can defer indefinitely if they're smart about it. Real estate investors use this to grow their portfolios and increase the actual return on investment. To do this you'll need to know all the details of the Section 1031 code though, and should consult with an expert. Here's the thing: Too many people assume that they can't use Section 1031 because they think

17 05, 2018

Heads Up About Fulton County Property Tax Bills

Paces Funding2024-06-17T12:46:47-04:00May 17th, 2018|Categories: Hard Money, Investments, Taxes|

If you're thinking about an investment property in Fulton County, you should be aware that the Fulton County Board of Assessors announced a 25 percent median increase in the year's home appraisals. Last year, Fulton County residents complained about drastic assessment increases. After those complains, Fulton County decided to keep assessments the same as the year before. Still, that won't work this year. See, according to law, tax assessments must be close to market value and Fulton is doing very well. Still, in Fulton County, the board of assessors did tell the public they would investigate properties that might have

30 04, 2018

Property Tax Relief In The State of Tennessee

Paces Funding2024-06-17T12:47:12-04:00April 30th, 2018|Categories: Hard Money, Taxes|Tags: State of Tennessee Property Tax Freeze Program, State of Tennessee property tax relief program|

Let's talk about the State of Tennessee property tax relief program. Tennessee offers tax relief to certain eligible homeowners for all or part of paid property taxes. The tax relief isn't an exemption. Homeowners still get a property tax bill and are still responsible for paying property tax each year. The amount of tax relief varies. The amount of tax relief issued by the State of Tennessee depends on the property assessment and the county or city tax rate. It might not be the same every year. Most property investors know, but this tax relief is only available for people's

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