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February 2011

Found 2 blog entries for February 2011.

If you own rental property, the IRS has enacted a new law that requires you to issue an IRS 1099 form to your handyman and other vendors who work to maintain your property.

Beginning in 2011, the owners of rental property must start keeping track of payments to all service providers that do at least $600 worth of work for you. Federal law now requires you to keep track of these service payments and send the maintenance providers an IRS 1099 form.

The requirement applies to all independent ­contractors including plumbers, electricians, painters, cleaning services, gardeners, landscapers, accountants, and handymen—in short, virtually all service providers to the property who don’t receive a W-2 form from you and who provide at least $600 in services for the…
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So you decide to take the plunge into real estate investing in Austin.  You decide against using an agent, because you think it will improve your bottom line.  Who needs an experienced agent when you have resources like Zillow and Trulia, right?  You spend 100s of hours researching the market and find the perfect distressed property in Austin with awesome potential for a big return on investment.

You close on the deal, and upon remembering that a successful investor once told you that make your money on the buy side, you smile at your results. 

You perfectly execute your remodeling plan, stay on budget, and even complete the remodel ahead of schedule.  You’ve hit a homerun you’re first time at bat. 

You decide to enlist the services of a local real

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