Hello from WA State
Hi. My name is Shelly and my husband and I live in Washington State, but we are wanting to move out of state. We are considering ID, CO, WY, TN…mainly, but are open to other options.
It is just getting far too expensive to live in this state. The average 3 bedroom home is running $300,000 on a city lot! We do not have good credit due to medical bills on my part, though my husband makes a fairly decent living. I am pursuing my Bachlors degree in IT/multi media/Visual communications …
Looking for owner financing on Watts Bar Lake. Either a lot or a smaller home, either is fine. I am self employed and the banks won’t touch me even though my credit is good, I am a person that pays my bills. I am looking for something that is affordable and I am in a lease until November so I am looking now because November will be here soon. I would like to stay on the Roane, Meigs County side of the lake but will consider the Rhea County side also. I want lake front, not lake access, I have …
Owner will Finance - St. Augustine, Florida
Hello Everyone!! My name is Lisa and figured I would give this a try… I have homes available in St. Augustine, Florida in which I am willing to owner finance… If anyone is interested in the sunshine state, simply send me an email & I will tell you more… My email address is dreamer2521@yahoo.com…
Private Letter Ruling on Deferred Sales Trust Issued
Deferred Sales Trusts have been around for about three (3) years now and have been used successfully to assist taxpayers in deferring the payment of their capital gain taxes and under certain circumstances their depreciation recapture taxes over a predetermined period of time into the future.
Deferred Sales Trust Compared To The 1031 Exchange
The Deferred Sales Trust is not the same as a 1031 exchange. In fact, the 1031 exchange is generally a better income tax deferral strategy because it allows the taxpayer to indefinitely defer the payment of their income tax liabilities, including 100% of their depreciation recapture taxes. The taxes will never come due as long as the taxpayer continues to structure 1031 exchange transactions by reinvesting in replacement properties throughout their lifetime.
Deferred Sales Trusts can be an incredibly powerful tax deferral strategy when the taxpayer does not want to continue 1031 exchanging by reinvesting in replacement property as required by the 1031 tax deferred exchange.
Taxpayers can sell their highly appreciated property - whether it be real estate or personal property or a business or company - and avoid getting hit with the capital gain taxes all in the year of sale by deferring the payment of the capital gain taxes through the Deferred Sales Trust.
Private Letter Ruling Now Available
We have used the Deferred Sales Trust for almost three (3) years now in helping taxpayers defer the payment of their capital gain taxes when they do not wish to 1031 exchange or their 1031 exchange fails and they would still like to defer the payment of their capital gain taxes.
And, we now have a Private Letter Ruling to further support the process. The Internal Revenue Service has issued a PLR or Private Letter Ruling addressing the tax deferred structure of the Deferred Sales Trust.
Can I 1031 Exchange Into a Promissory Note?
Buying Distressed Notes
I overheard a conversation recently while circulating at a commercial real estate networking event in Los Angeles. The person speaking said they were buying distressed loans (promissory notes) at significant discounts from commercial banks. The loans were already in foreclosure, and the person speaking (buyer) wanted to buy the notes now so that they would end up with the actual real estate by completing the foreclosure.
Buying Notes Through a 1031 Exchange
She indicated that she would like to sell certain real estate that she already owns through a 1031 exchange, and then acquire the promissory notes from the commercial bank as her like-kind replacement property to complete her 1031 tax deferred exchange transaction.
She indicated that she had asked a couple of 1031 exchange Qualified Intermediaries about doing just this but that the two Qualified Intermediaries said that the transaction would not qualify for 1031 exchange treatment because the installment notes were personal property and not real estate.
Expertise and Experience Counts Here
The answer that she received appears to be correct on the surface. She wants to sell real estate, so it stands to reason that she must acquire real estate in order to qualify for tax deferred exchange treatment under Section 1031.
However, there actually is a way to structure the transaction so that it will qualify as a 1031 tax deferred exchange. The concept is relatively easy and straight forward. The strategy combines the concepts of the Reverse 1031 Exchange parking structure and the Build-To-Suit 1031 Exchange improvement strategy.
Reverse 1031 Exchange Parking Structure
She could implement the Reverse 1031 Exchange parking structure under Revenue Procedure 2000-37 where the note would be acquired and “parked” by the Exchange Accommodation Titleholder (EAT) as her intended like-kind replacement property.
The note is absolutely personal property as the two 1031 exchange Qualified Intermediaries pointed out to her when asked if it could be done. It is clearly not real estate, yet.
Build-To-Suit 1031 Exchange Improvement Strategy
Real estate is often acquired and parked by an Exchange Accommodation Titleholder in order to improve the property. The real estate is then transferred to the taxpayer to complete his or her 1031 tax deferred exchange once the improvements have been completed. This is referred to as an Improvement 1031 Exchange or a Build-To-Suit 1031 Exchange or a Construction 1031 Exchange.
The same concept can be used for her proposed 1031 tax deferred exchange. The note would be acquired and parked by the EAT. The EAT would “improve” the property by completing the foreclosure. The EAT would end up with the actual real estate upon completion of the Trustee’s Sale. The real estate can then be transferred to her to complete her 1031 exchange.
You really can acquire a Promissory Note as part of your 1031 tax deferred exchange transaction as long as the like-kind replacement property is actually a real property interest when it is received by the taxpayer completing the 1031 exchange.
More Good Economic News: Private Sectors Jobs
The pace of job losses in the Private Sector in the United States slowed considerably last month, while planned layoffs for the future also dropped, and the hard-hit residential real estate sector continued to show signs of economic improvement.
These economic reports on the slowing of job losses, planned layoffs and continued improvement in the residential real estate sector are the latest indications that the United State’s economy is pulling out of the freefall.
Residential real estate, the initial center of the economic downturn, showed an increase in mortgage applications last week, even while mortgage interest rates increased to their highest levels since mid-March 2009.
The aggregate number of private sector job losses in the United States were much lower than what was expected in April 2009, and hit its lowest level since November 2008. Meanwhile, planned layoffs at private firms in the United States dropped for a 3rd month in a row in April 2009, which was the lowest level of planned layoffs since October of 2008.
Looking for a home
I am looking to move in August, I have a small down payment and can pay 1200 per month will be able to get a loan in a few years due to a divorce. Looking to start over again 
so a fixer upper is ok
please email me at
nicolekurtz911@yahoo.com
thank you
Nicole
looking for home in southwest city,seneca owner finance
I am looking for a home in the southwest city or seneca area,needs to be at least 3 bed 2 bath,must be willing to let it be fixed for handicap bathroom and entrances and ramps etc. all one level home no stairs or steep inclines.please if anyone knows of such a place contact piguet61@msn.com
looking for home in southwest city,seneca owner finance
I am looking for a home in the southwest city or seneca area,needs to be at least 3 bed 2 bath,must be willing to let it be fixed for handicap bathroom and entrances and ramps etc. all one level home no stairs or steep inclines.please if anyone knows of such a place contact piguet61@msn.com
Seeking owner will carry
Seeking owner will carry single family home in the Phoenix metropolitan area. Looking for at least 3 BR, 2 BA with a decent sized yard for 1 child/3 dogs. Have 4.36 acres w/mobile in Tucson to put up as trade or can put up for sale for the downpayment. Cannot afford monthly payments in excess of $650/monthly. Please email me at sibelabmom@aol.com if anything is available. Thank you.
Stacy
WANTED: ONLY ! BEACH OR SHORE FRONT SMALL HOME (OWNER FINANCE)
Looking for a Beach or Shore house. On the East side of New Jersey. Must be facing the Ocean. With Owner Financing.
Kindly: Email / LakhiUSA@aol.com
The Advantages of Purchasing Properties On Subject To
More info…
There are a number of advantages to purchasing a home subject to from a previous owner. The most obvious advantage is that you do not need to apply for your own financing. If the previous owner had a good interest rate, their rate will typically be lower than the rate that you would be able …
For the first 10 days, HUD only allows owner occupants, government programs or non profits to bid on their properties. These properties are generally in need of repairs, they have eliminated at least 90% of the buyers for their properties. Additionally they have eliminated buyers who are willing and capable of making fast decisions. Because …
Seeking owner finance < $150,000
Looking for owner financed/land contract home in Kentucky, Virginia, West Virginia, Pennsylvania, Maryland, Tennessee, North Carolina, or Delaware that is no more than $150,000, 3+ BD, 1.5 BA or more, preferrably with more than one acre; would consider property that needs some minor repairs, but must be liveable at time of purchase. I am able to put a 10 - 15% down payment.
Looking for real properties with owner/seller financing near the Bay Area
Using Twitter On Steroids! It’s Automagical!
I spend a lot of time trying to figure out how my team can network better, collaborate more efficiently, sell smarter, etc., on the Internet. The one thing that was really stumping me was Twitter. I logged in for the first time and then subsequent times and just had a really hard time understanding what it was all about.
Understanding Twitter
I spent a lot of time really trying to understand how to effectively and efficiently take advantage of Twitter for our 1031 tax deferred exchange businesses. How could I really get Twitter to direct more visitors to our websites, discussion boards and blogs?
Why would someone just click on a link that I posted through Twitter. I understood part of it, but the rest just stumped me. I kept asking the question, why would someone spend so much time using Twitter? It seemed like such a drain on my time and resources, but I stuck with it.
Twitter On Auto Pilot
I stumbled upon a link to a video - through Twitter of course - that explained everything. How Twitter works, what was effective and why, and most importantly, how to do it automatically so that I didn’t have to work that hard at Twitter anymore. It was Twitter on Auto Pilot!
Increased Followers; Increased Website Traffic
I should warn you upfront. The video is a sales pitch, but I was trying to figure Twitter out, so I was willing to listen to anything. They were selling his product that would really help put Twitter on Auto Pilot.
I intended to listen, but not buy. I got sucked in and ended up purchasing his program. It was under $30.00, so I figured it was worth the risk if it could get me on the right track with Twitter. I’m now adding 400 to 500 followers each day on my Twitter accounts and driving traffic to our web properties by following his easy system. You can listen to the final video if you like and resell his product for a commission, but the content and educational value regarding Twitter is worth it alone.
How To Stay Front And Center
More info…
Your primary purpose is to stay in front of the REO agents for future good deals. It relaxes them because they will begin to understand that you are persistent and professional in your pursuit. Additionally, it will serve as a constant reminder and keep you on top of their mind. If your email happens to …
How To Use My Strategy For Bank Loans
Here is how the loan works. I buy the property with cash. The bank (typically a small local bank) will then give me a personal line of credit with the property as collateral. It is important to use this terminology because it seems to be common among small banks. The banks that I work with …
Methods To Buying Or Refinancing Properties
More info…
Lets say that I wanted to sell 10 properties at 85% or 90% of appraised value. This method will still work, but the buyer will have to come up with 5% or 10% down (plus closing costs). This may be advisable if the buyer wants to buy all 10 properties, but doesnt have enough money …
How To Refinance A Land Contract
If the owner does not have the cash to sell and to pay off the mortgage, the owner may be able to sell on land contract and keep his or her own financing in place. This could be considered a safer method, but it requires more upfront research with the lenders. Before doing this, be …
Private Letter Ruling on Deferred Sales Trust Issued
Deferred Sales Trusts have been around for about three (3) years now and have been used successfully to assist taxpayers in deferring the payment of their capital gain taxes and under certain circumstances their depreciation recapture taxes over a predetermined period of time into the future.
Deferred Sales Trust Compared To The 1031 Exchange
The Deferred Sales Trust is not the same as a 1031 exchange. In fact, the 1031 exchange is generally a better income tax deferral strategy because it allows the taxpayer to indefinitely defer the payment of their income tax liabilities, including 100% of their depreciation recapture taxes. The taxes will never come due as long as the taxpayer continues to structure 1031 exchange transactions by reinvesting in replacement properties throughout their lifetime.
Deferred Sales Trusts can be an incredibly powerful tax deferral strategy when the taxpayer does not want to continue 1031 exchanging by reinvesting in replacement property as required by the 1031 tax deferred exchange.
Taxpayers can sell their highly appreciated property - whether it be real estate or personal property or a business or company - and avoid getting hit with the capital gain taxes all in the year of sale by deferring the payment of the capital gain taxes through the Deferred Sales Trust.
Private Letter Ruling Now Available
We have used the Deferred Sales Trust for almost three (3) years now in helping taxpayers defer the payment of their capital gain taxes when they do not wish to 1031 exchange or their 1031 exchange fails and they would still like to defer the payment of their capital gain taxes.
And, we now have a Private Letter Ruling to further support the process. The Internal Revenue Service has issued a PLR or Private Letter Ruling addressing the tax deferred structure of the Deferred Sales Trust.
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