Short Sales & Taxes

It’s Josh here, with a must-see if you want to be a short sale expert. It’s almost tax time - do you know how to legally help survivors of short sales with their tax issues?

Now, we never, ever, ask our real estate investing students to give tax advice to the homeowners they work with. It’s unethical, and it’s illegal. Wrong information can really get one or both of you in hot water. Did I mention never to give tax advice unless you’re a CPA?

There are some issues that come up during a short sale which a homeowner who is selling their house needs to be aware of, and that’s where you come in. As a real estate investor, you can help survivors of short sales just by giving them a heads-up on what questions to ask their CPA when they get their taxes done.

So, between now and the end of January, we’ll give you a few examples of tax problems that the homeowner might run into - and then we’ll give you a few solutions!

Study these and learn how a real estate investor should answer these questions. You just might be a hero to that homeowner. Have you ever tried to withdraw money from a retirement account? Did you find out that the investment firm can’t tell you about the tax implications of the withdrawal? Same scenario. They know that giving you advice is crossing a line - but the good ones will tell you what to ask your CPA, and that CPA’s advice might save you a ton of money.

Want more tips on real estate investing issues? Click here to register for our free Silver Membership for free reports and resources.

Also, if you want to get a look at the legal aspects of short sales, then check out attorney Jeff Watson by clicking here.
Stay tuned,
Josh