- Видео 238
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chad seay
Добавлен 11 окт 2011
Selling residential real estate since 1990, Chad has encountered most everything concerning buying or selling a home. Here, you can glean valuable insights that are sure to give you an edge when you enter the game of real estate.
Earnest Money Deposits and How They Work
When buying or selling real estate, you’ll want to know about good faith deposits and how they work. 🏡🏠🏘️ #earnestmoney #goodfaithdeposit #earnestmoneydeposit #buyingahouse #buyingrealestate #sellingahome #sellingrealestate #rvarealestate #rvarealtor #realestateinvesting #realestateinvestor
Просмотров: 11
Видео
Cross-Collateralization
Просмотров 119 часов назад
Trying to figure out how to get financing on your rental property? Cross-collateralization might be the answer! #collateral #crosscollateralization #cross-collateralization #realestateinvesting #realestateinvestor #realestateknowledge #realestateinvestingtips #realestateinvestingeducation #seayrealestate
Credibility as a Real Estate Investor
Просмотров 10День назад
Once you get your first deal under your belt, more are likely to come. Especially if you build credibility along the way. Get to work on building a great reputation! #realestateinvesting #realestateinvestor #realestateinvesting101 #realestateinvestingeducation #realestateinvestingtips #credibility #reputation #rvarealtor #seayrealestate #rvainvesting #buyingrentalproperty
Creative Financing
Просмотров 3314 дней назад
Creative financing can be a way for someone to purchase real estate who wouldn’t be able to otherwise 👍🏠🏡🏢🏚️🏘️ #creativefinancing #creativefinance #buyingrealestate #sellingrealestate #realestateinvesting #realestateinvestor #realestateinvestingeducation #seayrealestate #charenhomes #rvarealestate #rvarealtor
Making Your Investment Increase in Value
Просмотров 4821 день назад
How would you like to create some money? Buy real estate, improve it, and there you go. 👍🏠⬆️ 💵 #valueadd #valueadded #valueaddition #realestateinvesting #realestateinvestor #realestateinvestingeducation #buyingahouse #seayrealestate
Counter Offers in Real Estate
Просмотров 2521 день назад
Counter offers are an important part of buying and selling real estate. #lessonsfromvinny #counteroffer #realestatesales #buyingahome #sellingahouse #buyingrealestate #sellingrealestate #seayrealestate
Contract For Deed
Просмотров 28Месяц назад
Have you ever heard of contract for deed or a land contract ? Take a listen to this somewhat unique way to purchase real estate. #contractfordeed #landcontract #buyingrealestate #sellingrealestate #buyingahouse #sellingahome #realestateinvesting #realestateinvestor #realestateinvestingeducation #realestateinvestingtips #seayrealestate
Concessions in Real Estate
Просмотров 25Месяц назад
We’re not talking about the place where you get hamburgers, hot dogs, Chick-O-Sticks, BB Bats, and Fun Dip at a ballgame. In real estate, the word “concessions” may mean something you’re not familiar with 😊 Perhaps you can ask the seller to throw in a hamburger 🍔 if you buy their house 🤷🏻♂️ #realestateconcessions #concessions #realestateinvesting #buyingahouse #buyingahome #realestateinvestor ...
Appraising Residential Rental Properties
Просмотров 21Месяц назад
When it comes to appraising residential rental real estate, there are two primary ways it is done. 🏡🏠🏚️ #realestateinvesting #sfr #multifamily #multifamilyinvesting #realestateinvestor #realestateinvestingeducation #realestateinvestingtips #rvarealtor #rvarentals #seayrealestate #realestateappraiser #realestateappraisal #incomeapproach #comparisonapproach
Add a bedroom or bathroom when renovating your investment property!
Просмотров 23Месяц назад
Adding a bedroom or bathroom to your single family home renovation will pay off handsomely 👍🏡💵 #rvarealestate #rvarentals #realestateinvesting #realestateinvestor #realestateinvestingeducation #realestateinvestingtips #flippinghouses #buyandhold #seayrealestate
Closing Costs when Buying a Home
Просмотров 16Месяц назад
When you go to buy real estate, besides your down payment, you’ll have other expenses. These are known as closing costs. In the video, I don’t mention all of the expenses you might encounter including, but not limited to, an appraisal and a credit report. 🏡💵 #closingcosts #settlementexpenses #buyingrealestate #buyingahouse #buyingahome #seayrealestate #rvarealtor
Cash Reserves for Real Estate Investors
Просмотров 17Месяц назад
As a real estate investor, you’ll want to have some funds set aside for times of need. These funds are often referred to as “cash reserves.” #realestateinvesting #realestateinvestor #realestateinvestingtips #realestateinvestingeducation #seayrealestate #rvarealestate #rvarentals
Cash Out Refinancing for Real Estate Investors
Просмотров 102 месяца назад
When you have a lot of equity in your single family rental, refinancing is a way to access some cash to buy your next investment property! Of course you might decide to do something else with the funds 🤷🏻♂️ One thing you won’t do is pay taxes on the money 😉👍 #cashoutrefinance #realestateinvesting #realestateinvestor #realestateinvestingeducation #realestateinvestingtips #seayrealestate #rvarea...
Assignment of Your Real Estate Contract
Просмотров 132 месяца назад
Have you ever heard of assigning a contract? Here’s what that’s all about 🏠🏡💵 #contractassignments #contractassignment #realestateinvesting #realestateinvestor #realestateinvestingeducation #realestateinvestingtips #seayrealestate
You Make Your Money On The Purchase
Просмотров 62 месяца назад
It is a truth, and helpful insight, often shared in real estate investing circles. Profits are made, the day you purchase 🤔🏡 #realestateinvesting #realestateinvestor #realestateinvestingeducation #realestateinvestingtips #seayrealestate #rvarealestate #rvarealestateinvesting #richmondrealestate
Don’t be Reckless When Buying Rental Property
Просмотров 143 месяца назад
Don’t be Reckless When Buying Rental Property
Have Standards. Qualify Your Tenants.
Просмотров 683 месяца назад
Have Standards. Qualify Your Tenants.
When the Rental You Purchase Comes with a Tenant
Просмотров 833 месяца назад
When the Rental You Purchase Comes with a Tenant
To Flip, or To Hold? The Question for Real Estate Investors
Просмотров 163 месяца назад
To Flip, or To Hold? The Question for Real Estate Investors
How To Sell Your Rental Property and Not Pay Taxes
Просмотров 434 месяца назад
How To Sell Your Rental Property and Not Pay Taxes
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What do you think? My cash flow is positive $1,200 monthly….
My house faces east. I don’t like the heat because of it. I have planted a tree in the path of my front door to try to create shade.
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Well, have you ever wondered why your videos are not getting views?
Hello there I like your content very much. Your content is very good but I noticed how your RUclips channel is not getting any views and subscribers are very less and due to some problem you are like this your channel needs some update then your views subscribers will increase. If you want to increase subscriber views then we can increase your channel subscriber if you need any help let me know. I will wait for your reply.
I love when the shoe mold terminates into the plinth block and the faces are flush. It shows a well thought out design. Thanks for the video.
Looking to buy my first investment home but I want to avoid using my cash on hand for the down payment. Is it a good idea to use equity in my home to finance and limit cash out of pocket?
I’d say that is a great idea! Many have started that very way. I often use home equity to secure properties long enough to renovate them and get them up and running. You’ll then want to either sell it, or secure long term financing in order to pay off your home equity loan, freeing that equity to be used again.
This video was so helpful! What if you were inherited a house many years ago and are not sure how much your cost basis is. My agent told me she can't tell me the true cost basis but she printed out how much homes sold in my area at the time l received property. How do I get an official number I can use when reporting my taxes? Thanks!
Just did a 1031 Exchange! Sold 1-Rental in CA and Bought TWO Condos in AZ! Money never hit my account! Used an intermediary! Working on Renting them right now!
Perfect! Good job.
My First one and I’m proud of myself as I did it without an Agent too!
If I inherit a property, how do I go about determining its current market value to establish a new baseline going forward? Do I need to get an appraisal or a broker price opinion?
Yes. Either of those will work. We often give price opinions to people in our market for that very reason.
P r o m o S M
Very informative! Thank you! If you inherited a house and lived in it for a few consecutive years and are single, do you still have to pay capital gains taxes if you make under 42k a year for income?
I believe that since you have lived in it for 2 of the last 5 years... it qualifies as your principal residence and you will not have to pay taxes when you sell. But of course check with a CPA or tax expert to make sure if you are about to sell. Thanks for your comments and question!
Good explanation.
is this true in NY state?
skip the first 3 minutes plus
What if the house was depreciated for 20 years before you inherit it because it was a rental does that have tax implications?
Good morning! I just found this online and it agrees with what I expected. Of course confirm with your CPA: You will not need to worry about past depreciation on your inherited property. You will just use your stepped up basis (FMV of property on date of inheritance) and this new basis will be used for depreciation. You will be able to depreciation these inherited assets in full over the property's useful life. For example, use the full 27.5 year, S/L for the rental house (less land) and the start date will be the date when the rental property was transferred to you.
I forgot to mention that if your house faces the north, you’ll have almost no assistance from the sun in melting snow and ice from your front steps or walkway! ❄️🌨️
Thanks. New information is useful.
So your owner is shocked that they would have to pay off the solar when they sold the house. I assume they would be equally shocked that they would have to pay off their car loan when they traded it in. Solar is ugly? People are dumb.
Another question that nobody seems to ask: in what condition (how old ) is your roof? will it need a repair for leak and panels will need to come off which it means it will cost. Some states will not insure house if roof is over 10 years old.
Any reasonable buyer who prioritizes aesthetics should never consider buying a home that had a heat pump, either, because those outdoor units are an ugly clump of metal sitting there, and they should never consider a home with natural gas since that means an ugly meter and regulator are going to be sitting there staring at them and any visitors that venture around the house, and the interior side of fireplaces and woodstoves are messy, ugly things that should cause a rejection out-of-hand, and they should also make sure that the airspace above their house is clear of any offensive noise sources like aircraft and helicopters, and.... So long as it is well-engineered and installed, solar is great. The finest place to sell someone on it, in most cases, is with a copy of the electric bill and a calculation of what the difference in cost would be over, say, a 1-year or 5-year period without them. In the place I am now, they cover nearly half the bill.
If you have to go solar, do it with a yard mount. Even at that, never expect to save money. It's a huge lie. Many areas where there is net metering, ie. selling peak generation back to the utility, the utility companies are moving away from that. Solar and green energy in general is a fraud.
Then theres the insurance co dropping owners with panels. HOAs giving grief. And roof leaks. Never put panels on a less then brand new roof. An obvious mistake. Only 10% of the world has enough cloud free sun to pay down the carbon used to make the panels. Most panels are net carbon generators not reducers/savers. ;(
Thanks for the additional insight! Great points.
Do you also drive a 30-year-old car? Laughable, long-debunked claims.
Pro tip, don't live in a state where they allow HOAs to give you grief over solar. It is illegal in Arizona for an HOA to not approve a solar installation. In 2022 my PV system generated 15.9 MEGAWATTs of electricity. I paid the local utility $198 for electricity in 2022. My system will pay for itself in 8.5 years. PS NEVER lease a PV system, it is a ripoff. I recommend paying for it up front. The only areas where insurance companies are dropping PV owners are places where Hurricanes are a high risk.
Thats an interesting few points there. Not much savings in Scotland. Best to wait for better tech. Its getting less expenive, longer lasting and more efficient every year here. When they don't have to give you the cost savings calculations, we'll know solar is good.
Thanks for the insight, Peter. On a visit to Scotland this past June, my wife and I were amazed to still see daylight at 10pm or later. Something we don't experience here in Virginia 🙂
Thank you
You're welcome!
What about recapturing of depreciation if you just rented a room? Mother rented a room and the accountant depreciated the sqft of the rooms that were rented (so it wasn't a "rental property") It was her primary home (still is) The house is in a revocable trust, going to my wife (sole beneficiary) So when we go to sell the house once it's passed down in the trust to my wife. Will she had to pay the recapture of depreciation? Don't even have a clue what those numbers are. I just know they depreciated the sqft of the room when I came across some old returns. Thanks
It can get complicated, huh? That's definitely a question to explore with a CPA and ideally one who is very familiar with such things as I don't suspect all are.
I’m trying to see what’s the best situation for my aging parents and their 2 properties. Property 1) main residence Property 2) 2nd home “rented” to a family member for decades way under market value. No legal documents were signed. They can live in either house, but prefer their primary. looks like it would be more beneficial (tax wise) to sell their primary to take advantage of the 500K married couple exclusion? We are trying to reduce their assets so they can qualify for long term care if something happens again as you can only have 1 house. Thoughts?
I agree that it would be more beneficial from a tax standpoint to sell the house they are living in. Then they could move in the 2nd home, live in it for two years or longer, and then sell it as their principle residence. Of course there are nuances and you'd want to speak with a CPA to be sure and clear. If they really want to stay in their primary, it might be worth it to them to just sell the rental home and take the tax hit.
@@chadseay8522 thanks for the response! Sounds like because they only have social security and a pension they are combined at 50k/year. From what I understand that is exempt from capital gains? I’ll consult with a CPA, just doing some research ahead of time a bit. Thanks for your help!
Ty. Good video. What if I sold a house and I acted as the bank?
Thanks! It would depend on whether it was a house you had just inherited or one you had had previously and used as a rental. If the former, I believe taxes would be paid on the interest you earn and the basis for future tax would be the value when you inherited it. If the latter, you would only pay capital gains on the down payment you collected and then annually on interest earned and principal paydown. But you would definitely want to check with your CPA to confirm.
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These are State Specific Not a cookie cutter generalization. So before giving such advise, it’s better to start with in XX states then the “ knowledge “
But the federal cap gains tax would apply across the board in all states.
Thank you very much for the info.
You’re welcome!
😳 Promo sm
Its a huge dark massive cloud. It wants to left alone, so I oblige.
Veterans after 2 yrs, no capital gains.
When you inherit the property and keep it for awhile, you’d need to have an appraisal correct?
That's right. If you have decided to sell it, it would be very beneficial to know exactly what the value was when you inherited it and what it is worth now. Taxes would typically be paid on the difference minus certain expenses. So appraisals (or at least a Realtor's written opinion) would come in handy.
'Promo sm' 😄
Where do you live after the house is sold?
I get texts too!
So do I!
It’s funny that my last number I got so many calls and texts from someone wanting something that I finally had enough and got a new number and since then I haven’t gotten a single spam call or text. Going on close to two year now.
A shame there's nothing here about who is actually behind those postcards.
We got a letter late last year from some sort of land development company offering a certain price for a lot we own. It did have conditions listed. The lot is mostly steep hill. The only "flat" area has a creek running through it. The lot came with the lot we live on, otherwise we wouldn't have bought it ourselves. Could not see a land development company making a serious offer if they had any idea what the land was like. I figured they took a look at google maps for vacant land and sent out letters to the owners. We ignored the letter.
That happens a lot. Those mailings are sent with the idea they will "figure it out" when someone responds. You saved yourself some time by not responding.
Just pray the government doesn‘t do away with the step-up basis on inherited property.
Agreed!
Agreed!
Well then don’t vote Democrat…… Biden and his “party” are already floating the elimination of this. Elections have consequences
If Trump wins this November (which he will) it will never happen! Biden and the Dems proposal to abolish the “step up basis” was turned down in 2021 but that doesn’t mean they will not try it again!
Can you tell me what tax forms are needed when owner financing a property? Thanks!
✌️
I owned a house for 30 years, raised a family there; my primary residence by any stretch of the imagination. I moved into mom's when she got sick and my child lived in my house paying only taxes and utilities. That was about 4 years before I sold it. It's no longer my primary residence. I'm screwed and I know it. I'm currently trying to come up with a full listing of the costs of improvements I made over those 30 years to reduce the capital gains tax. I didn't expect to have to keep the receipts from getting the basement glass block windows in 1993 (for example) so it's going to be a challenge. (EDIT: Moral of the story, folks. Keep receipts for any and all home improvement and maintenance costs. You never know what the situation will be when you sell.)
I hope you find plenty of improvements to help offset that gain! Thanks for sharing.
@@chadseay8522 .. Thanks. I neglected to say 'nice video.'
So it’s one or the other ?
Wendy toler can you be a cosigner if your mother is your payee and your mother os the one takeing out the loan