I
know there is fraud here somewhere, but why? I was talking
to one of my
investors the other day and he said he was talking to an investor buddy
of his
that is going to try something that he heard about on a radio show, but
my
question is and was… WHY?
You see, the idea was that these investors where doing 1031 exchanges on properties and what they would do is show on the HUDs that they were buying properties for say $200,000 but in reality they were paying $250,000 in cash and the last $50,000 was under the table.
Now, I could understand if this was a multi-million dollar 1031 exchange, but we are talking such a small amount, how can they actually be gaining anything out of the deal? The taxes would be minimal at that amount and I think the only thing it is actually doing in my opinion is losing the buyer money!
Here is why I think it is losing the buyer money. They report on their taxes they paid $200,000 for this property and have it start to depreciate over the years, but they would get more if they had paid $250,000, so why only report you paid $200,000? It just doesn’t make sense.
If someone can figure out who these people are defrauding besides themselves, I would love to hear it. I’m guessing it is one of these late night shows that talks and shows numbers and there really isn’t anything to it, but it gets investors to buy real estate.
Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
Tigard Oregon Homes for Sale, Tigard OR homes for sale, homes for sale in zip code, 97223,97224, Tigard Oregon Realtor, Tigard OR Realtor, Tigard Oregon MLS Search, Tigard OR MLS Search, 1st time home buying expert, short sale expert, avoiding foreclosure in Tigard, helping families home, LivingBeaverton, Townhomes for sale, home for sale, house for sale, Bull Mountain North, Bull Mountain South, King City, Mountainview, Greenburg, Summer Lake Neighborhood, Summerfield neighborhood, Tigard neighborhood, Walnut Grove Neighborhood. Tigard Oregon Real Estate, Tigard OR real estate, Todd Clark, (503)524-9494, WWW.LivingTigard.com, www.IFoundYourNewHome.com, www.SavingyouFromForeclosure.com
©2009 Todd Clark - I know there is fraud here somewhere, but why?Good service is nice, but when you get great service you don’t forget it!
