News about properties and real estate
Where has the money gone? [South Florida] The arrest of Sarasota businessman Daniel Prewett has investors worried. Dr. Wayne Cohen and his wife invested $462,000 with Daniel Prewett, so the Cohens had reason to be alarmed when they heard Prewett had been arrested on a federal money laundering charge. The couple had given Prewett the …
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Even reluctant landlords can reap tax breaks Perhaps you’re a reluctant landlord. Caught in the housing downturn and unable to sell your house or condo at a decent price in 2006, you may have decided to rent out the property. Now, at tax time, you are left with a jumble of rules you never encountered …
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So what does $250,000 get you these days? [Central Florida] The median resale price of a home in Central Florida has hovered at a quarter of a million dollars for almost a year. A cool quarter of a million dollars. Two hundred and fifty grand. That’s roughly what it takes to buy a typical used …
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Will quitclaiming interest to relatives have tax consequences? DEAR BOB: About five years ago, I co-signed a home mortgage for my nephew and his wife. They were newlyweds buying their first home. They both had great jobs and great income, but no credit history so I volunteered to help them get a mortgage loan at …
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Toll, Centex, Lennar Join `Moron’ Speculators in Land Grab Bust Brian Tuttle owns so much land that he paid $3.6 million to get rid of 125 acres ready for development in the middle of Florida’s Palm Beach County. “In 2005, I was a brain surgeon, and in 2006, I was a moron,” said Tuttle, who …
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Build real estate wealth tax-free New book simplifies rules of property exchanges Whether you want to trade your rental house for another one, or you want to pyramid your real estate wealth without paying taxes along the way, “The 1031 Tax Advantage for Real Estate Investors” by Timothy S. Harris and Linda Monroe is the …