Don’t forget to take advantage of your real estate investing tax benefits for 2023. Here are some quick tips
If you’re planning a flip in 2024, buy materials now to deduct them from your taxes in 2023.
If you own an investment property, reduce your 2023 taxable income by investing now in building materials for projects you anticipate in 2024.
Consider prepaying 2024 insurance or property taxes, depending on your tax situation.
Looking ahead to next year, think about investing in a property in a “qualified opportunity zone” to further reduce your tax liabilities for 2024. Consult your accountant to get specifics for your individual tax situation.
Reasons to LOVE December
Think December is a quiet month with not much happening? Think again! December is often loaded with opportunities for real estate investors.
People DO sell, buy and move during the holidays! Changing job situations or family circumstances are still happening in December, creating opportunities for investors.
Many people need to close on houses by the end of the year. There is still a sense of urgency, even though it’s “the holiday season”.
Prices may come down as sellers begin to anticipate the market slowing down.
So don’t sit on the sidelines this holiday season. Stay on the lookout for your next investment opportunity, and make sure you’re pre-qualified for 100% Financing with RFG now.
Four Profitable Reasons to Own an Investment Property
1. Rental Income: Investors can generate a regular cash flow, providing a consistent source of revenue.
2. Appreciation: Real estate has the potential to appreciate over time, and can be sold for a profit or passed on to increase generational wealth.
3. Tax Benefits: Deductions are available for mortgage interest, property taxes, operating expenses, and depreciation. Capital gains tax rates for long-term investments can be more favorable than those on other forms of income.
4. Portfolio Diversification: Real estate often behaves independently of other financial markets, like stocks and bonds. This can mitigate risk and enhance overall portfolio stability, especially during economic downturns.
We Need Your Advice!
How can we best serve your needs? What would you like to hear more about in this newsletter? We’d love to hear from you. Please take a short moment to give us your feedback!
100% Premier Loans from RFG cover all renovation costs. NO DOWN PAYMENT!
Jason is a successful house flipper with 8 property flips under his belt. Northern Virginia is a very competitive market with low inventory of foreclosures and short sales.
Jason searches for under-built homes in highly desired locations.
He vastly improves properties without out-pricing the neighborhood.
He bought this outdated property, knowing that comps had recently sold for almost $200k more than his purchase price.
Results:
Appraisal value increased $153,000 after $39,575 in renovations. Net Profit: $40,000
