AMERICA'S 30 UNDER 30 REALTOR
I am so happy to report that my team was 1 of 3 out of 55+ teams that legitimately finished the race. My first leg was absolute HELL! It was pitch dark and my head lamp broke 3 steps into the leg~ go figure. All and all I am so thrilled that I completed all my 3 legs! My teammates were amazing and very inspiring. I am lucky to have such great quality people to emulate.
We took 1st place and I have a sweet belt buckle to prove it!
Last night I was asked by a dear friend to run Ragnar with her and 6 others~ knowing me I agreed! That meant getting up this morning and running my tushie off. I am SUPER sore, but SO super proud of myself!
Wish me luck this weekend(*)
PS I wrote 2 offers today and listed a good friend’s house. Please call me for all of your real estate needs.
Everyone please take a moment and read this article. There is NO reason to be renting! As a landlord, I feel terrible that every month my duplex is paid for free and clear by my tenants and I am able to net $500 from them. That is insane!
As you can see we have SOLD our inventory and are seeking to sell more.
CALL TODAY! TO SET UP YOUR APPOINTMENT!
The Real Estate Market is ALIVE!!!! I am so happy to be able to be practicing real estate at this time; I am also grateful for the learning curve during the last three years while the market was slow. It is so exciting to list homes and watch them go under-contract after 2 days, with multiple offers. I am SO excited for the energy and movement.
Call me for any questions you may have.
The one good thing that came out of September 11, 2001 is the years to follow and watching the United States for one whole day remember those that were taken and the effects. It has been 11 years since that horrible day and yet we are just now starting to see the economy come back. Not only were far too many lives taken that day, but we as an economy truly died. We must now pull together and protect what is ours and build it up again. Let’s no worry about who or what becomes the next president because we all know that is a joke; but rather instead become the change.
This morning I logged on to my FB account and scrolled down onto amazing photos and words my friends and family had posted and shared.
May we never forget(*)
This past March I was fortunate to attend a conference in Florida and it was stated there that millennials age group are living with parents as opposed to on their own. This is due to the financial standing of our country as well as the upbringing in which my generation was raised in. I am well aware of the fact that I am included in the entitlement group; we as a whole believe we are due certain things just because we desire them.
I am definitely a lucky girl that was able to own real estate at a very young age. I just recently built a home; and put 20% down on it in order to avoid M.I. (mortgage insurance).
With a new law passing short sales may actually become something worth while for average buyers. This is super exciting and we as Realtors are very hopeful!
$$Money is what makes the world go round and round. In the hands of the wise it can be the worlds’ greatest instrument, but in the hands of the greedy many lives can be distroyed. I would like to teach my clients ways to beat the system so they can truly come out on top. My goal is to truly educate my clients so they can make decisions that will best suit their families needs.
Please follow me along on a journey though tax savings…
In section 1031 in the Internal Revenue Service (IRS) is a boon for a prospective investor, selling an investment property and wanting to make a profit by reinvesting in a similar property elsewhere in the country. This wonderful concept works on the principle of gain rolling from the old to the new.
There is widespread ignorance, due to the population being not well educated, on the modalities about this exchange; as a result, 30-40 percent of property owners end up paying tax during the sale. This is an absolute waste and is terrible. Exchange 1031 not only fructifies into essential tax savings, but also makes possible the swapping of property in the fairest manner at places of choice. No wonder that the 1031 Exchange excites the property market so much.
The new income-generating replacement property gives the investor the double gain of added income and savings from tax that would have otherwise gone to the IRS coffers.
Besides saving the buyer from a huge tax burden coming in the guise of capital gains, the instrument offers maximum immunity and flexibility in reinvesting the money gained from the sale in a replacement property within a given period.
The exchange being time-bound is no kid’s play either. In every exchange of this kind, Qualified Intermediaries (QI) plays a crucial role connecting the buyer and seller. The Federal Tax Code makes service of QI mandatory since 1991 in any exchange.
The federal nature of the 1031 Exchange regulations make the Qualified Intermediary play a wizard in guiding and structuring the exchange, satisfying all parameters and suiting the goals of the clients. It is the QI who does the paperwork required by the IRS to document the exchange. The QI carefully prepares all documents and serves the parties with copies of the exchange agreement, novation agreement and escrow instructions.
The Exchange Agreement reads like a contract between the Exchanger and a Qualified Intermediary. The Exchanger explicitly agrees to transfer his old property to the Intermediary, in lieu of a new property to be supplied by the latter within 180 days. The contract outlines all terms and conditions under which the exchange of properties should take place.
For a 1031 Exchange to take effect, both the old property as well as the new property should be in the category of investment property, capable of generating income. The examples could be rental property, bare land, vacation homes or more.
As soon as the old property is sold, within 45 days the seller has to come out with a list containing two or three probable properties fit for replacement. And the whole process of purchasing the new property or replacement property from the list must be over in a period of 180 days.
The exchange becomes bona-fide only when the title stays intact and whosoever held title to the old relinquished property gets the title of the new property.
In between the sale and purchase of property, the seller of the old property would get no access to the money he accrued from the sale, as the money will be vested with the ‘Qualified Intermediary’ (QI) till the exchange gets over.
This 1031 Exchange process has matured and had many names in the past including Like Kind Exchange, Deferred or Delayed Exchange, Simultaneous or Concurrent Exchange, Starker Trust or Exchange, Alderson Exchange, Reverse Exchange, Two, Three, or Four Party Exchange and Baird Exchange.
My goal us to help educate the population so we as a whole can avoid being taking advantage of. I can put you in contact with an awesome CPA, My loving uncle, and he can help you further regarding these matters.
Have a good day!
Buyers do not realize that the location and surrounding people will truly effect the outcome of their new home. I am grateful to report that our neighbors thus far are incredible! Everyone looks out for one another and truly has each others best interest at heart. It makes me feel truly “at home”. Unfortunately, this evening someone from “The Blair Witch Project” needed medical assistance. That darn circle always has a police car or ambulance down it. After talking to the police officers this evening they informed my husband and I that it is truly an eventful spot for South Salt Lake…. GREAT! ha ha
In our community we have talked about doing a progressive dinner so everyone can have tours of each others houses. SUPER FUN idea huh? I have created a fun Facebook Page for everyone to interact through called Terra Solar’z (get it? Since our houses are energy efficient).
I am off to help the hub dig trenches for our sprinkling system, no home should be without one these days. Manual watering is for the birds and truly dates one’s house!!!
LATER**