Do You Own A Rental Property? Poof! You Are A Business Owner! - 08/02/11 12:08 AM
 
 

 
Did you know buried in last September's Small Business Jobs Act of 2010 are new 1099 rules for owners of rental real estate?  For the 2011 tax year, the IRS will consider owning 1 or more rental  properties “a business” for purposes of the 1099 requirements. 

 
This means property owners must file a 1099 with the IRS for any service provider paid $600 or more in 2011 for services.  Services can range anything from yard care to accounting.  Owners must provide a copy of the 1099 to each payee. 
 
There are exceptions... Congress … (4 comments)

Rentals Are On The Rise & Investors Can Now Finance up to 10 Properties! - 08/01/11 10:50 PM
 
 

 
Most Loan Officers know & understand that the maximum # of properties any one person can finance = 4 properties. 
This includes the borrower's Primary Residence. 
 
There's a new update to the Rules. (August 2011)
 
Now up to 10 properties total can be FINANCED. 
 
I have updated the details below....
 
As always, I am available by phone or email 7 days a week until 8pm daily.  I am licensed to provide residential mortgages in Wisconsin, Illinois and Texas.  
Got a question?  I'm happy to answer....
Email me to … (2 comments)

 
Hello2

Lora Willms FHA, VA, Conventional Home Loans in Wisconsin, Illinois & Texas

Mequon, WI

More about me…

Network Funding, L.P. NMLS #2297, NMLS #222026

Address: 1200 W Sierra Lane , Suite C13, Mequon , WI, 53092

Office Phone: (262) 240-0809 x 102

Cell Phone: (262) 649-6805

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