The estate tax, the most unfair tax of them all, in in limbo thanks to Congress. What now? How do we plan for our real estate holdings?
The estate tax, the most unfair tax of them all, is now in limbo because Congress did not take care of it before leaving for a very long Christmas vacation.
Yes, I’m angry. I’m angry because I consider it a double tax. It is taxing those of us who have real estate and other holdings. Hence, it is dubbed the burial tax by my family.
But apparently there will be no estate tax in 2010. That’s the good news for people who die during this period, I guess. The golden geese now have a timeline of sorts, if you want me to be blunt about it.
The bad news is it will kick back in come 2011 and with the perfect storm furor only a messed up tax system like ours can muster. Thanks, representatives. You are representing us and our hardworking interests so well.
What do we do for now? How do we plan?
That’s just it. We can’t do anything or make financial plans until we find out what these very free spending Congressmen and women are going to do. They’re too busy with health care to notice, I reckon. Will the Chinese keep on sponsoring our debt forever?
Does anyone have any business sense at all in Washington? Where’s the shame?
Is there anything new about real estate investing? Not really. Can you still make a million in 2 years?
Real estate fortune: can it be made in just 2 years? Justin Pierce, of Bigger Pockets reviews the Matthew Martinez book 2 Years to a Million in Real Estate.
The short answer is “no,” according to Justin.
The long answer is what we’ve always said on this blog. Yes, you can become wealthy and live off your properties in your retirement, etc. if you are willing to work hard and smart. The problem for most people is they are not willing to do that. They often get discouraged when they have to deal with tenants and they give up.
Need help renting a property during these long difficult months? Try the MLS…
The MLS helped us rent a condo that had been empty for several months. In fact, we filled the vacancy within days of it going up in the MLS.
Thanks to my realtor sister-in-law, whom I should have listened too more quickly, the listing got in and up. Now we have a very good tenant who actually has a job. (Many of the prospects we interviewed over the vacancy did not have jobs.) Continue reading “MLS To the Rescue for Filling a Rental”
Nesting is the latest trend in real estate. What is it and how does it affect our investing?
Nesting is one of the newest real estate trends.
It is when homeowners decide to stay where they are. They won’t be moving up after all.
They like their homes, lots and neighborhoods. They will make living there work, one way or another.