Do Bank Accounts with Beneficiaries Have to Go Through Probate?
Adding a beneficiary to an asset account generally avoids probate. This applies to bank accounts. If the owner of a bank account dies, some banks freeze it. What does this mean if there is a beneficiary? Does the account still have to pass through probate?
How to Calculate Cost Basis for Rental Property
It is a common misconception that the cost basis for a rental property is the price paid for a property. The cost basis for a rental property is actually the cost of acquiring the property. This is considering not just the price, but also expenses incurred in the sale.
Is the 1% Rule of Real Estate Investing Realistic?
The 1% rule is a guideline real estate investors use to choose viable investment options for their portfolios. Although the rule has helped many investors make wise decisions regarding their investment properties, the current real estate market may make following the 1% rule unrealistic.
What Happens If I Don't Depreciate My Rental Property?
Owning and maintaining a rental property can be expensive — not to mention a lot of work. Luckily, some of the expenses are deductible and claiming depreciation helps defray the cost of property ownership. Depreciation is a deduction that allows the investor to recoup the cost of assets (in this case, the rental property) used as a source of income.
Can You Convert a Single-Family Property to a Multifamily Investment?
You can transform a single-family home into a multifamily investment through a conversion where you split the home into multiple rental units. However, there are things to consider before deciding to convert.
What Types Of Costs Are Included In Adjusted Basis?
The concept ofcost basis, or simply basis, is frequently used to understand taxes, amortization, depreciation, and other issues impacting real estate investments. This is because understanding the basis of an investment—in other words, what you paid for it, plus purchase-specific expenses—can impact your overall investment strategy.
