Condominium Management
Deadline Looms for Some Tax Benefits Under the Small Business Jobs Act
Real estate and construction companies need to take note that some key provisions of the Small Business Jobs Act of 2010 (the Act) will expire by the end of the month. The Act expanded two income tax expensing provisions as an incentive to encourage businesses to purchase certain types of property. In order to take full advantage of these provisions for 2010 calendar tax years, qualified businesses will need to act quickly, placing property in service as soon as December 31, 2010. Bonus Depreciation Retroactive to January 1, 2010, the Act extended the 50-percent first-year bonus depreciation that previously expired at the end of 2009, giving. Read More.
CB&H Launches Distressed Asset Recovery Services
The present volume of other real estate owned (OREO) and non-performing assets (NPA) presents an extraordinary challenge to lenders – and traditional solutions do not always apply. Foreclosure actions and online marketplaces often result in inadequate auction bids. Banks with OREO and NPA are often asking more than buyers are willing to pay. However, they often need to maintain their asking price in order to avoid realizing additional REO and loan losses and negatively affecting their overall capital. Attempts to sell the property can often result in additional costs to the bank from removing liens and other expenses. Real estate. Read More.
Reverse Condo Conversions: Turning Condominium Units Back into Rental Properties
Before the recent economic downturn, condos represented one of the hottest sectors of the residential real estate market, with pre-construction bidding wars breaking out between investors and speculators looking to capitalize on the condo frenzy. Now that the market has slowed, a number of investors are stuck holding properties that they are unable to sell, and many are considering the advantages and disadvantages of turning those condominium units back into rental properties. Immediate Cash Flow A soft condo market can be a good rental market. If managed properly, a rental property offers the opportunity to generate positive cash flow to. Read More.