IRS problems, landlord problems, more foreclosures- is there an end to all this housing mess and tax credit bandaid?
The first time home buyer tax credit is causing even more problems as this report from the Minyanville website proves.
Writer John Lipton brings out one of the top complaints(landlord losses) we have had with this $8000 credit and asks the question, “What’s next?”
But the pace is getting fast and furious as the deadline approaches. ( We got yet another call from one of our tenants taking advantage of this tax break right in the middle of Sunday dinner yesterday.)
Have they no shame?
As we have been complaining, we’re being left with two empty units in the middle of winter with little chance of renting them “off season” until things start pumping up again next spring.
As always you’re making brilliant business decision as you sculpt the housing market. But is it a work of art yet?
Here’s a warning. We keep reading these stories and if you’re thinking about turning your properties over to managers as I am now considering, you’d better do your due diligence or else your money could end up in the morgue.
But perhaps Ms. Cornwell could have been a hard money lender.
Here’s an interesting article about what hard money lending is and how it can benefit both those with money and those who are anxious to borrow it.