Knowledge is the Key to House Flipping in this Market

Collier Swecker video blogs about what the current market is for people who want to flip houses. We are in a real estate market where it is vital that buyers have as much knowledge as possible when buying a home to flip for investment. Between the lack of good inventory to buy and governmental regulations it has become harder to just buy a foreclosure and make a quick dollar. It is so important that people who want to get into flipping houses team up with an experienced team of folks to ensure a successful and profitable flip. If you have any questions or comments email me at Collier@MegaAgents.com, visit my website at www.MegaAgents.com.

Vacant Homes and Rental Homes Need Different Insurance Policies

Collier Swecker video blogs about how home owners who have moved out of their home or have decided to rent their home need to convert their existing home owners insurance policies to policies that will cover vacant homes or rental homes. Most of the time, rental homes and vacant homes are exclusions from the traditional homeowners policies and are grounds for denial of claims. We have seen it happen! If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.

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The IRS Says All Rental Property Owners Now Must Issue 1099’s To Everyone

Collier Swecker video blogs about tax legislation changes by the IRS that will require ALL rental property owners, regardless of size to issue 1099’s to any service provider or vendor who performs over $600 of work in any given tax year. Just because you are an individual who owns one or two units, your friends at the IRS have said that they will now be treating you just like any other property management company.  If you are familiar with the old 1099 IRS laws, you will remember that you did not have to submit 1099’s to For Profit “C” Corporations, but the new law requires you to submit 1099’s to these companies as well.  The penalty for not properly reporting 1099’s is now $250 per non-reported vendor / service provider. If you have any comments or questions, email me at Collier@MegaAgentRealEstate.com or visit my website at www.MegaAgentRealEstate.com.