ash Flow properties

Now is a great time for investors.  I have access to homes that meet the following criteria:

1 - For sale
2 - Lists of tenants ready to rent

If you can put 20% down or more on a property (minimum $40,000 with closing costs), then I have some opportunities for you.

Here's a great example:

There's currently a one bedroom condo for sale at $95,000 just five minutes from the Strip.  You put down 20%, which leaves you with a mortgage of $76,000. 

At 6.75%, your payment is $494 a month.  Add your HOA fees of $131 and monthly taxes of $53.  Your expenses equal $678.  Tenant pays $750 a month.  You pay 5-10% for property management, which give you a net positive cashflow of $34.50/month. 

But wait, there's more

You also have write-offs.  When you own an income-producing property, you are entitled to the following tax deductions:

• All Operating Expenses incurred during the operation and maintenance of the property.
• All Mortgage Interest paid on any loan(s) secured by income property.
• All Points paid on any income-producing property mortgage are deductible over the life of the loan.
• Miscellaneous closing costs (title search fees, title insurance, appraisal fees, loan app fees and recording fees are deductible in the year of purchase.
• Depreciation of the property due to wear and tear, physical deterioration and age.  You can depreciate the property over 27.5 years, according to the IRS.
• Capital Improvements are subject to the same depreciation method.
• Personal Property like furniture and appliances (anything not permanently attached to the land or improvements) can be recovered over a period of 5, 7 or 10 years.

I suggest you sit with your accountant or CPA to discuss which deductions you can take advantage of.  After you've done your research, let's start shopping for that new investment!