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$62,000 House * Rehabber’s Dream * 40% Instant Equity |
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| Location: | Las Vegas, Nevada |
SOLD!! |
| Property Type: | House | |
| After Repair Value: | $105,000 | |
| Purchase Price: | $62,000 | |
| Estimated Equity: | $40,000 | |
| Cash Flow: | $500 + | |
| Monthly Rents: | $1000-1300 | |
| Estimated Repairs: | $10,000 -12,000 | |
| Annual Taxes | $1,100 | |
Bringing the Dream of Homeownership Within Reach
Written by: National Association of REALTORS®
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service.
Who Qualifies for the Extended Credit?
• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
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