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Santa Ana - 1130 Baker Street

$335,000

SHORT SALE - A block from Mater Dei High School this charming home is a perfect starter for a first time buyer or a great rental. The property has been partially updated with recessed lighting and tile floors. Lots of space with a detached two car garage and long driveway to park a boat or RV. It's in great shape.

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Lake Forest - 26178 Serrano Court - BACKUP OFFERS

$225,000

Short Sale - Super clean, 2 bedroom condo central to everything. SHORT SALE Open the front door to a light, open, airy living room, tastefully decorated to give that relaxed comfortable feeling. Cute kitchen and dining area open up into the living room. Immaculately maintained, this condo sits central to all of Orange County, 10 minutes to Irvine and 15 to South County. Priced to sell First time home buyers and investors welcome.

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Lake Forest - 25212 Shadywood - SOLD

$380,000 - SOLD

RARE CONDO FIND...This home is a house that happens to be attached to another house. Lots of space to spread out with a nice yard to relax in after a long day. Extremely private living areas. This is a fantastic value for this size home. This is a short sale.

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Tax Benefits of Real Estate Investment Properties Print E-mail
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Written by Clancy Fort   
Thursday, 29 November 2007
Wow…do you get lots of great tax breaks. Real estate income properties are mini businesses and are treated as such in the tax code. I AM NOT AN ACCOUNTANT, SO CHECK WITH YOUR ACCOUNTANT to see how this might benefit you. Here are a few of the major tax items that work in your favor.

Using the 1031 Exchange

 
Wow…do you get to write off lots of stuff. Real estate income properties are mini businesses and are treated as such in the tax code. I AM NOT AN ACCOUNTANT, SO CHECK WITH YOUR ACCOUNTANT to see how this might benefit you. Here are a few of the major tax items that work in your favor.
Bullet The 1031 Exchange
  The ability to sell your current investment and buy a like kind property of greater or equal value and defer the capital gains tax on your profit. This is an amazing wealth building tool when used with the ability to borrow on the property.
Bullet Depreciation
  The building value (not the land) can be depreciated up to 27 years. Check with your accountant on this one. Some have been using less time over the depreciation cycle.
Bullet All expenses including mortgage interest is a write-off
  Be careful here. There is a big difference between an expense and a capital expenditure. Capital expenditure is adding or replacing something on the building that enhances the value (i.e. New roof, replacing the plumbing, remodeling a unit). Capital expenditures are depreciated.
   
 
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Last Updated ( Monday, 14 April 2008 )
 
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