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Tax Credits and Investors

By
Real Estate Agent with Shepherd Real Estate LLC RS299988

The homebuyer tax credits can apply to investors in some circumstances.  If an investor will be residing in the newly purchased property, they can take a tax credit in proportion to the % of the building they will be using as their personal residence.  Great time to invest!

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Craig Snead
Quality Home Investments, LLC / Dearborn Heights, MI - Dearborn Heights, MI
Real Estate Investor

Ron - If I understand you correctly, does that mean if it is a four unit complex the investor would get a 25% credit and if it is a single family home they would get 100% provided it was their primary residence?

Jan 29, 2010 02:08 AM
Ron Shepherd
Shepherd Real Estate LLC - Lititz, PA

That's right!  10% of the purchase price with a max of either $8,000 or $6,500 depending on which credit they are eligible for.  It's a great time for someoene to get into an investment property.

Jan 29, 2010 02:32 AM