Investing in Beautiful Asheville, NC (part2)

By
Real Estate Broker/Owner with REAL ESTATE RESOURCES & NETWORK 209970
https://activerain.com/droplet/57BK

Mountain Homes and Land Legacies
Investing in Beautiful Asheville, NC 

 

 1031 Investing in Beautiful Asheville, NC 

I am not a Qualified Intermediary. But I  have taken many courses to help me point out potential pitfalls, even though I am a real estate broker who specializes in LAND. With this in mind,  I can suggest that real property investors  DO NOT :

1) inadvertently indicate in a Contract that they  intend to live in the property,
2) sign a listing agreement soon after its purchase,
3) apply for “owner occupied” financing on the property,
4)  move into that property within a specified period of time,
5) ignore rental history (it must be rented by its tenants for a significant time)
6) claim the "mortgage interest" deduction for the property on their tax returns,
7) treat a 1031 investment property as a "time-share" arrangement.  Section 280A of the Tax Code spells out the Test. Personal use of the property may not exceed the greater of: a). Fourteen (14) days; or b). Ten percent (10%) of the number of days that the property is rented at fair market value to others.

 

A PLACE TO CALL HOME

 

Many “boomers” may plan for a future that includes “aging in place” when  they divest of their 1031s possibly enjoying the tax advantages.   P.S. You don't have to be old to live in accessible home. But you will be old someday.


Plan for it.

See our eBooklet below
that contains helpful starting points for talking about and designing
a comfortable and BEAUTIFUL lifelong home.

Posted by

 

 

True Guide to AGING IN PALACE eBooklet Becomes Amazon Best Seller

 
Your Home for Today and Tomorrow- Smart UP-Fitting
GO HERE - for Tips & Talking Points.
 Home Decorating, New Space Design

 

Aging in PaLACE eBooklet

 

"Helpful starting points for talking about and designing
a functional and BEAUTIFUL lifelong home."

 

Asheville NC Real Estate Journal for RESOPURCES & REFERRALS -Mountain Homes and Land Legacies- Asheville 1031 Realty© 2014.  Designations: NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant, ePRO®. Unauthorized reproduction of any information including photos and graphics on this site is a violation of existing copyright laws.  All rights reserved.

he Necessary Disclaimer! We disclaim liability for damages or losses, direct or indirect that may result from use of or reliance on, information contained in the blog or for accuracy of comments or opinions of visitors to our blogs.

 

DAILY  ASHEVILLE AREA NEWS YOU CAN USE 


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 Email me janeAnne@janeAnne.com  or give a call at: 828-776-0779

LIC #:209970

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Topic:
Home Buying
Location:
North Carolina Buncombe County Asheville
Groups:
Realtors®
ECO ALL-STARS & GREENIES
The Lounge at Active Rain
Bananatude
Aging-in-Place, Boomers, Castles & Dreams
Tags:
asheville land and lots for sale
asheville 1031 land
asheville investment properties

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