On January 1, 2020 and any time thereafter the following Online Real Estate Transaction Services will be available for purchase in RodwellBuildingServices Realty Club.
Online Real Estate Transactions, Online Live Listing Tours, Property's Physical Needs Assessments, Buyers' and Sellers' Financial Needs Assessments
Online Real Estate Transactions are like live Auctions without the upfront deposits of Large Amounts of Funds. At all Times and Incidence, other buyers can Offer to buy any property for more than you contracted up to the moment before your Settlement.
In order to protect you and provide you with "the real services and the right properties for your order" safely and expeditiously, RodwellBuildingServices will institute the following policies formalizing our online real estate transactions confidentially via the Realty Club
Upon receiving your invitation to any transaction:
- Please confirm the information in the Preliminary Agency Agreements and verify your mailing address so RodwellBuildingServices can establish your account and our Real Estate Agency Agreements accordingly with each jurisdiction you are interested doing any transactions.
- Prepare the information for uploading into the Document Management System.
- Photocopy or Scanned copy of 2-picture IDs showing Buyers/Sellers name and picture on file.
- Evidence proof of all Buyers/Sellers named mailing address (State Issued Picture Identification Card and 2 other mailed documents from senders' letterhead and addressed to your present u.s.p.s. mailing address.
- Evidence proof of all Buyers/Sellers finances/financing: 1. Copy of banking statements showing deposit of funds to substantiate your offer or 2. Letters from responsive Lender/Mortgage Broker stating Pre-Approval or Pre-Qualifying circumstances for all Buyers/Sellers.
RodwellBuildingServices will prepare and write your offer for your review and execution prior to submitting it to all Buyers/Sellers respectively within 12-hours you demonstrate that you are able to do it with all the information above.
You are entitled to have independent inspection/survey of the property before your Settlement on that property and any time after all Buyers/Sellers contracts are ratified.
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A gentleman called on my office several months ago. He had suddenly realized that his salary in the city was way more than his living expenses. Even though he was commuting up to 3 hours each way, he still had 1/3 of his net income to save or blow. He had decided to save it and after about 15 to 16 months, he was calling on us to buy some rental properties. I showed him properties and showed him how the new tax bill plus other indirect incomes is what makes rental properties up to 4 units is the most lucrative of all investments in real estate. Read the entire article from Realtor.com. It contains first hand information and professional advice you too can capitalize on.
While rental income is taxed, the tax act could offer landlords a nice tax shelter of sorts where up to 20% of that rental income is tax-free.
“What that means is for every $100 of taxable rental income, it's possible that you only pay tax on $80 worth of it,” says Amanda Han, a certified public accountant and assistant managing director at Keystone CPA, in Fullerton, CA
How exactly the federal tax changes apply to individual property owners can vary, so Castelli recommends seeking out a tax professional well-versed in real estate to help sort things out. But here’s a general overview of some of the new tax rules that will most likely affect rental real estate owners—including me.The rental house we purchased before the remodelErica SweeneyThe newly renovated rental house, with a new roof, fresh paint, and an opened-up front porchErica SweeneyLandlords can deduct a big 'bonus' the first yearBlame it on wear and tear, or just the passage of time, but in the eyes of the IRS, rental property depreciates over time. For landlords, that's a tax break—typically one that's spread out over several years.The good news? During the first year of owning a rental property, landlords can take a "bonus" depreciation deduction. In the past, that deduction maxed out at 50% of the property's value. But under the new tax act, that deduction doubled, to a max of 100%, which could amount to the entire sum you paid for the place. In other words, it's a huge chunk of change!This bonus deduction would be netted against revenue, which, in many cases, would make rental income show a loss, Castelli says.“So you won't be paying tax on your rental income," he says. “I'd say that's probably the biggest and most important change or most beneficial change to rental real estate investors.”Keep in mind, though, that your property has to qualify. One, it must be placed in service (meaning available for rent) after Sep. 27, 2017, and before Jan. 1, 2023. Two, all or part of the property must have a "class life" of less than 20 years. Since most properties typically have a class life of 27.5 years, it would need to be reclassified as a five-, seven-, and 15-year property in order to take advantage of the bonus depreciation (a CPA can help with this).Here's how it all plays out in dollars and cents: “Let's say you have a property worth $100,000, and you can get 20% of that reclassified as a five-, seven- and 15-year property," Castelli says. "That's a $20,000 deduction.”
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UPTOWN CHARM PLENTY SPACES FOR 3 ROOMMATES. This very well-manicured and nicely preserved detached house with 3 bedrooms; 1-1/2 baths has too much features and amenities to list. Hardwood floors on main level, built in TV in kitchen, heated sunroom/den/porch and a landscaped patio for your cooking pleasures. Even the pictures can’t beat you seeing it up close and personal. Property will be open for public viewing on Saturday, March…Read More