Comments on: How Can Real Estate Investors Profit from the Home Buyers Tax Credit Extension?

By: Richard

Richard — Fri, 20 Nov 2009 00:35:53 +0000

I LOVE the new positive attitude…it’s what will get the whole economy back and was the secret of Ronald Regan: Confidence. I think this is a pretty damn good opportunity to get in the real estate market if you area has deflated prices…

By: Peter Giardini

Peter Giardini — Thu, 19 Nov 2009 06:10:56 +0000

Shae,

Thanx for the comment.

Best of luck with your plans for 2010.

I cannot believe that we are 6 weeks from 2010…

Where does the time fly.

By: Shae Bynes

Shae Bynes — Tue, 17 Nov 2009 18:19:48 +0000

Great info, Peter (and yes, good to have something positive to report!). Looking to get a couple rehabs done early next year to take advantage of this. It does seem to be helping down here in South Florida!

By: Peter Giardini

Peter Giardini — Mon, 16 Nov 2009 21:03:24 +0000

The FHA and HUD requirements are not nearly as stringent as they were 4 years ago. In fact, for any property that have been rehabbed meeting the FHA requirements is not that big a challenge.

By: Peter Giardini

Peter Giardini — Mon, 16 Nov 2009 21:01:55 +0000

Obviously if you are a potential homeowner buyer the opportunity is the tax credit… assuming you meet the requirements.

For real estate investors, the opportunities are the continued number of buyers in the market seeking both a house and the credit.

By: Kathleen Couch

Kathleen Couch — Mon, 16 Nov 2009 20:29:23 +0000

Brian,
You have to have lived in your home for at least 5 years, and close after Dec. 1, 2009.

By: matt mathews

matt mathews — Mon, 16 Nov 2009 19:11:04 +0000

Just wanted to add one thing. Almost all new buyer loans today are FHA. With that said; The rehab etc must conform to FHA REGS! That requires a Contractor and Appraiser certified by HUD!

By: Brian Doebler

Brian Doebler — Mon, 16 Nov 2009 12:37:32 +0000

Good Morning!

I bought my house 3 1/2 years ago that I live in. I have bought and flipped several starter houses in the last 5 years. I seem to fall in the categorie that is not qualifying for the extension….or the original 1st time tax credit. What am I missing, and how do I take advantage of this opportunity? I am closing on a home Nov. 20th.
Brian

By: Kathleen Couch

Kathleen Couch — Sun, 15 Nov 2009 01:11:59 +0000

Peter,
Your readers may also benefit from reading this take on using the tax credit as a benefit for selling a home. http://realestateinvestorgirl.com/2009/10/22/how-to-sell-your-house-before-the-tax-credit-deadlinepart-i.aspx
and also see Part II, as listed below.
Also, I have found the tax credit very helpful in selling short sales I have negotiated. Multiple offers always.

By: Joshua Dorkin

Joshua Dorkin — Sat, 14 Nov 2009 20:28:15 +0000

Yep.

By: Peter Giardini

Peter Giardini — Sat, 14 Nov 2009 20:02:19 +0000

So big it makes both data points totally useless!

By: Joshua Dorkin

Joshua Dorkin — Sat, 14 Nov 2009 06:59:12 +0000

Big difference between 200k and 2 million . . . YIKES!