All articles tagged with #investment property
A 36-unit apartment complex in Garwood, built in 1973 and featuring amenities like a laundry room and garages, was sold for $6.6 million, above asking price, with the new owner planning renovations, reflecting its desirable location near New York City.
Attorney General Letitia James of New York was indicted, revealing her purchase of a $137,000 house in Norfolk, Virginia, intended for her grandniece, which prosecutors claim is an impermissible investment property, bringing political controversy to light.
A W-2 employee in California reduced his federal taxes by 98% for a tax refund by utilizing real estate strategies, including bonus depreciation, to deduct elements of his investment properties. By qualifying as a real-estate professional through his spouse's status and utilizing the short-term rental tax loophole, he significantly reduced their taxable income, resulting in a minimal federal tax liability. He now teaches others how to achieve similar deductions and emphasizes the importance of long-term property ownership to avoid potential tax recapture.