Mandeville Real Estate Offers Residents the Tammany Trace
Those who are fortunate enough to call Southern Louisiana home are well aware that the weather is rather agreeable most of the year for some sort of outdoor activities. There are few days throughout the year when the weather is too disagreeable to enjoy the great outdoor. The Tammany Trace allows those who call this area home to enjoy the best nature has to offer almost any season of the year.
The Tammany Trace is a huge draw when it comes to Mandeville Louisiana real estate. Part of the reason is the increasing focus on health and fitness that is being recognized across the United States.
Another is that people simply want to have a safe place to ride bicycles with each other and their children. They want a safe place to take a walk in the evening and enjoy the beautiful scenery. The Tammany Trace offers exactly that to those seeking Mandeville, Louisiana real estate.
Of course, those who already call this area home have plenty of opportunities to get out and enjoy the great outdoors with events planned along the trace, outdoor activities on Lake Pontchartrain, and easy access to some of the best festivals, flea markets, and fairs that can be enjoyed under the Cajun sun.
If you are looking for a home in the area, you need not limit your search to Mandeville or Covington, Louisiana. Real estate abounds in all five cities that make up the 31-mile Tammany Trace. Other cities where real estate can be found in this desirable landscape include Abita Springs, Lacombe, and Slidell.
If you are looking for a family friendly place to call home, any of these cities should provide a little something special to your search.
Some of the activities that may be enjoyed on the Tammany Trace, an old railway that has been converted into a trail, include running, jogging, walking, riding horses, bicycling, and roller bladeing.
During daylight hours, Rangers regularly patrol the trails in order to further the feeling of security. If you are looking for a great place to get a little exercise or just something to do a few times a week, or daily, then it is quite possible that property near the trail would be a good investment for your needs.
There are also events that take place along the trail on occasion. Keep a lookout for upcoming events, as they are often very family friendly and a lot of fun for everyone. Kids of all ages enjoy life in the Tammany Trace area and Mandeville real estate is in high demand as a result.
If you have exhausted the resources in Mandeville, Louisiana real estate be sure to check out the real estate offerings in Covington, Louisiana before giving up your search for the perfect home along Tammany Trace. The Trace winds through all of the area towns.
If quality of life is a key ingredient when selecting your next home, be sure to check out the fabulous finds available in Covington, Louisiana real estate. You never know when you are going to find the one home that is just right for the right price.
The sense of community and the great warm climate of Southern Louisiana combined with the stunning architecture of many of the areas homes make a great combination for family fun any time of the year.
For Mandeville real estate information, contact Gregg Tepper, Prudential Gardner and the rest of the Home Selling Team. They are professionals experienced in St. Tammany and Tangipahoa Parishes and surrounding communities. Online at http://www.greggtepper.com/
Nurture Your Relationships: Become An Information Provider In An Unsure Market
When it comes down to it, a real estate agent is in the relationship business. Buying or selling a home is an emotional thing. It can be a happy occasion, a sad occasion or a mixture of both. What is important for real estate agents to understand is that they need to be there for their clients in the good times and the bad. Just because escrow has closed and the commissions have been paid, does not meant that your relationship with that client is over.
Due to the Adjustable Rate Mortgages that were issued between 2004 and 2006, 1 in every 5 subprime loans will most likely go into foreclosure in the next year. Some of the millions of homeowners that are facing foreclosure as we speak may even be your clients. Now is the time to let your clients know that you are still there to help as well as let potential clients know that you will do what you can to help them make informed decisions when buying their next home.
People are unsure about whether they are going to be able to make their next mortgage payment and what their options will be if they can’t. Someone facing foreclosure has a number of options, including selling. You can be there to help by offering information that is going to be much needed and welcomed by a homeowner that is unsure about the future of their family home. Creating an informative report such as “6 Ways To Avoid Foreclosure” can give them the information that they need and at the same time continue to strengthen your relationship. If the time comes when the only option left for them is to sell, they will know that you are there to help them with that as well. People looking to buy a home may be feeling a little gun shy due to the state of things and a report that offers “A Guide To Mortgages: Which is Best For You?” can help them make an informed decision when buying their next home.
You can offer these reports in a number of ways that will also allow you to generate leads.
* Use a toll free call capture hotline. Have people call into a toll free call capture hotline to receive reports or leave their information to have the report emailed or sent to them. The toll free number hotline will capture the name, address and phone number of your callers.
* Include the report in your monthly newsletter that goes out to everyone on your contact list. To capture the leads of the people on your current mailing list that are interested in this report, and therefore possibly at risk for foreclosure, ask them to call into the toll free call capture line to get either the entire report or the second half of the report. If you are not using a newsletter, you should be so this is a good time to start.
* Offer the report on your website. You can then either request for the email address of interested parties or again send them to a toll free call capture line where their name, address, and phone number can be captured so you can follow up with them.
* The newspaper or Homes magazines are a couple of places buyers look to for information. So placing an ad for your free report about picking the right mortgage here will generate a lot of buyer leads. Again, lead people back to your toll free call capture hotline or website to get the report so that you are generating leads while still providing useful information.
It is a scary time for millions of homeowners right now. With the possibility of foreclosure looming over their heads they are going to be searching for information they can use to find their way through. If you establish yourself as the source of the information they are looking for and someone willing to help them now and in the future, you can continue to build your relationships and your client list.
Brandi Cummings is an expert author and real estate call capture marketing specialist. To start positioning yourself as the agent in your area people can turn to in these tough times visit http://www.RealtyOne800.com.
Residential Investment Property Acquisition for Profit
The recent economic uncertainty sparked by the meltdown of the US sub-prime mortgage market has created a rare set of financial conditions in North America. Much of the developed world (and even more so in some developing nations) has enjoyed one of the longest periods of sustained economic growth. While this has led to an ever-growing gap between rich and poor, the total number of relatively wealthy people has also risen.
Such changes in financial status have put many Americans in a position of affluence, with the freedom to wisely use their wealth to wield greater influence over their future. Some of them choose to pursue a careful acquisition of residential investment property.
The so-called “credit crisis” has sparked some fears of a coming recession within the US. Naturally, no economy wants a recession. The major corporations, government, financial institutions, and private investment consortiums are doing their best to prevent an economic slow down. These entities, of course, are engaged in protecting their own interests though they are working to prevent a fiscal slump.
Most economists are agreeing that a recession is still possible, though not immediately likely. Instead, you will probably see a slowing of the rate of growth as markets compensate for what has been billed a recalibration, rather than the sort of economic collapse that usually precedes recessions.
For Americans fully invested in paying off their first mortgage, this is an uncomfortable position to be in, but not desperate. You are, however, much safer if you’ve managed to capitalize on the decade of relative prosperity, and you’re in a position to start thinking about purchasing residential investment property.
First, banks and other lenders can reasonably see you as a safe risk when considering an investment property loan. Such positive consideration plays a part in ensuring your access to credit at favorable rates. Because credit has, to some extent, dried up for riskier loans, the housing market has stalled, and there are some fears that it may even collapse, leading to plummeting prices in some areas. This is a bleak scenario, but like recession, not very likely according to many analysts.
Those who have failed to invest, or are themselves busy paying off their first house, can be forgiven if they don’t look favorably on the stalling market. Many buyers see a family home as one of the biggest investments they can make.
If you’re a savvy investor and can secure credit on favorable terms, however, current conditions present a rare opportunity. By applying the oldest rule of investment, “Buy low, sell high”, you can take advantage of your economically sound position and capitalize on the sluggish housing market. Applying investment property loans to new residential investment property drastically increases the value of your venture.
This could expose you to some risk in the unlikely event that the markets take a turn for the worse, and inflation and interest rates climb, while the housing market collapses. If you already own your own home, however, your additional residential investment property should serve as the collateral on new loans, to ensure that you do not extend yourself beyond your means.
This can be a tricky balance, especially if the cost of failure is your hard-earned family home, so novice investors would be well-advised to heed the advice of finance professionals.
Investing in residential real estate during the current “credit crisis” is ideal for investors with the ready capital. Acquiring a residential property investment can be a lucrative investment for you. KISCL offers software that can help you find a profitable property. http://www.kiscl.com
Choosing The Right Business Structure For Your Real Estate Business
As a real estate investor it is important to choose a business structure that gives you the maximum asset protection as well as the best tax advantages. Although I can’t advise you as to what type of entity you should structure your company as (you should consult with attorney) I can give you a brief overview of the different types of entities.
Sole Proprietorship. A sole proprietorship is basically a one person company and is simply “you doing business”. There isn’t any filing requirement to start you business using this structure unless you are using a fictitious or trade name. If you a using a fictitious or trade name you must file a “d/b/a” or doing business as with your state, city or locality. The only types of fees associated with being a sole proprietor are the licensing fees that your city or state or locality charges for doing business.
Tax Consequences of a Sole Proprietorship. The income made by a sole proprietorship is income earned by its owner. In addition, as a sole proprietor, you report your income, expenses, profits and losses on schedule “C” on your federal income tax return. This income is subject to a self-employment tax.
Disadvantages of Sole Proprietorship .One of the disadvantages of a sole proprietorship is there is unlimited liability. If you got sued everything you have personally is at risk. There is really nothing shielding your personal assets. If your business goes bankrupt, you must file for personal bankruptcy protection to avoid the business debts.
General Partnership. A general partnership is an entity that is formed with two or more parties. No paperwork needs to be filed to create a partnership. In fact it can be formed with a simple handshake. However, it is better to have a partnership agreement that spells out the terms of the partnership. If there is no partnership agreement then the partnership is governed by state law. The majority of the states in the U.S. have adopted the Uniform Partnership act which consists of a set of rules of how partnerships should act if they don’t have a formal agreement.
Liability of a General Partnership. A general partnership has no liability protection for partners. Partners are jointly liability for any acts of negligence. So whether or not a person in a partnership committed a negligent act he or she is still personally liable for that act.
Tax Consequences of a General Partnership.The general partnership itself doesn’t pay taxes it simply files an I.R.S. 1065 form. This is only an informational form that summarizes income, expenses and profits and losses of the general partnership business.
A general partnership is treated as a “flow through entity” which means that the profits and losses of the partnership “flows through” to the partners who report their share of income or losses on schedule “E” of their personal income tax returns.
The way that this works is that the partnership would send each partner an I.R.S. K-1 form that states their share of the partnership profits or losses.
Limited Partnership. In order to form a limited partnership, the partnership must file a “Certificate of Limited Partnership” with the state in which it is organized. There are two types of partners in a limited partnership. There are the general partner and a limited partner. The general partner controls the day to day operation of the partnership and is liable for all business debt where as a limited partner is not responsible for business debts and/or claims.
Liability of a Limited Partnership. The general partner in a limited partnership have unlimited liability and if a judgment is rendered against the limited partnership and that partnership doesn’t have enough assets to cover the claims, the creditor can go after the general partner’s personal assets. Sounds risky doesn’t it? Well it is!
Now unlike the general partner a limited partner has no liability beyond what they initially invested in the partnership. Creditors can’t go after limited partners for the debts of that limited partnership. In addition, limited partners unlike the general partner are not personally liable for acts committed by the general partner unless they participate in management decisions.
Tax Consequences of a Limited Partnership.A limited partnership is also treated as a “flow through entity” for tax purposes. I must point out to you that in “flow through” entities, the owners pay individual income taxes on all net profits of the business. This is the case whether they receive those net profits or not.
Corporation. A corporation is a business entity that carries its own legal status, separate and distinct from its owners. Its’ primary advantage is to provide owners with limited liability against business claims. A corporation requires a filing of an articles or “certificate” of incorporation with the state. There are two types of corporations “C” corporations and “S” corporations. An “S” corporation status must be elected.
Tax Consequences of a Corporation. A “C” corporation files an IRS form 1120 and pays taxes on its net income. The primary disadvantage of a “C” corporation is double taxation. Profits are taxed first at corporate tax rates and then again at the individual level. when owners receive profits from the corporation in the form of dividends.
An “S” corporation is taxed just like a partnership. It files an information IRS form 1120-S and the profits and losses “flow through” to the shareholders. The S corporation sends each shareholder an IRS K-1 which states the shareholder’s share of profits or losses.
Liability of a Corporation. A corporation provides liability protection for its owners (the shareholders). If the corporation was sued, the owners are not personally liable.
Limited Liability Companies. A limited liability company (or “LLC)” is a hybrid cross between a corporation and a partnership. To form a LLC the requirement is that you must file an “articles of organization” with the state. An LLC is owned by its’ members or partners and it is governed by its operating agreement.
Liability of a Limited Liability Company. A limited liability company provides protection for its’ members. The members are not liable beyond their contributions to the company. If the LLC is not able to meet its’ debts, the members are not liable for these obligations. In addition, if the LLC is sued the members are not personally liable. An LLC can be “member managed” or “manager-managed”
Tax Consequences of LLC. An LLC is also a “flow through” entity and for single member LLC the tax reporting requirements are basic. All you have to do is attach an IRS form Schedule C which is a Profit or Loss from a Business to your Form 1040 individual return. You will also have to file IRS form Schedule SE which is a self-employment tax form. On this schedule you will calculate the amount of self-employment tax owed. This self- employment tax is a combination of Social Security and a Medicare tax .If there are two or more members of LLC, then that LLC generally must file its’ taxes as a partnership.
Like I mentioned previously that requires the LLC to file a form 1065. Income, losses, deductions and credits allocated to each owner for the year are reported on Schedule K of form 1065. A schedule K detail is given to the respective members of the LLC detailing their specific shares of profits and losses. They would then use this information and attach the K-1 to form 1040 of their personal tax return and use it to calculate their personal income tax owed.
Limited Liability Partnerships. LLP’s are a special type of partnership designed to provide individual partners with protection against malpractice by other partners in the business. In some states this is known as a registered LLP, or RLLP. LLP’s are primarily designed for professions such as doctors, lawyers and accountants.
So there you have it, an overview of the different types of business entities in which to choose from. In running your real estate business, it is imperative that you to choose the entity that works best for you. Furthermore, you should also seek the advice of a competent attorney and an accountant before choosing a specific entity.
As a rule of thumb you want the best assessment of the business structure that will allow you to keep a significant amount of income that you made from your deals while minimizing the taxes that you have to pay to Uncle Sam. It makes no sense to make the money as a Real Estate Investor and to give a great deal to the IRS just because you didn’t choose the appropriate business structure.
Omar Johnson is a real estate investor and author of the home study course “The Real Estate Investors Guide To Finding Motivated Sellers” For more info visit http://www.findingthemotivatedsellers.com