When can you refinance your home? How do you avoid taxes when selling a property? And is there a legal limit on when you can raise rent? Unfortunately, for most new investors, many of these questions don’t come with a straight answer. And when talking about taxes, even experienced investors like Ashley and Tony can’t give advice. So, we brought back Amanda Han, CPA and real estate investor, to provide us with the facts about tax benefits, trusts, and how to pay less when you sell a property.
But before that, Ashley and Tony will share their experiences on raising rent, seasoning periods when refinancing, and why you should always talk to a lender before you buy. Many of these topics, such as taxes, refinances, and raising rents, come with pitfalls that a beginner property investor WON’T know about. So stick around because this episode could save you a TON of trouble on your next purchase, refinance, or sale!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Ashley:
This is Real Estate Rookie episode 260.
Amanda:
The tax benefit of a lease option is that the options money you get upfront, you don’t have to pay taxes on it until later on when the option is exercised. During the lease option term, you still own the real estate, which means you continue to get the depreciation benefits, the write-offs, and things like that. So it’s getting more money upfront, but also retaining the tax benefits because you still are the owner.
Ashley:
My name is Ashley Kehr and I’m here with my co-host Tony Robinson.
Tony:
And welcome to The Real Estate Rookie Podcast where every week, twice a week we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey. I want to start today’s episode by shouting out someone by the username of Leo Zhang, and Leo left a five star review on our podcast that says,…