flippinghousetips.com

Flipping house tips, ideas, and secrets that will make you big profits from your next

real estate project

Flipping Houses
Flipping House News
Flipping House Articles
Flipping House Finance

Flipping House News

Flipping Houses?

 

You could be facing financial disaster if you don't read this!

 

Renovating for Profit

 

Click Here for further information

 

 

 

Window of Opportunity Closes Soon in Panama Real Estate

 

Sydney Tremayne

A real estate tax holiday that can save homeowners tens of thousands of dollars and that is important to ex-pats and snowbirds ends soon in Panama. Those planning to build have to have a permit before August 31. But while one window closes, at least partially, there are fresh investment opportunities with older real estate. (PRWEB) May 14, 2005 -- If you want to live free of real estate taxes in Panama for the next 20 years, you'd better hurry up. A window of opportunity closes on August 31. The present deal, an effort to spur construction and create employment, is worth tens of thousands of dollars to ex-pats planning to retire in this peaceful haven or to buy winter homes here. Investors have rushed to save millions, and high-rise apartment buildings, hotels and shopping centers have been springing up like weeds, with the Panama City skyline a forest of cranes. But the deadline for obtaining construction permits under the deal is August 31. Completion must be before August 31, 2006. The tax-free status is transferable when the property is sold. What this means is that a considerable amount of older property is coming onto the market, and good deals can be had. But real estate taxes are relatively steep in Panama. Properties with a registered value of $30,000 or lower do not pay Panamanian property tax. Many homes in urban developments cost less than this. Tax is paid as follows on properties of a higher value: - 1.75% from $30,000 to $50,000; plus - 1.95% from $50,000 to $75,000; and - 2.10% on values above $75,000. For example, a property valued at $150,000 would attract the following annual tax: From $30,000 to $50,000: $ 350.00 From $50,000 to $75,000: $ 487.50 From $75,000 to $150,000: $1,750.00 Total: $2,412.50 Real estate tax savings on a $200,000 home over 20 years under the present scheme would be $69,250 – or about one-third of the purchase price of a high-quality home. Not all is lost after September, however. Residences with construction permits issued after September 1, will have the following exemptions: - Value up to $100,000: 15 years - Value from $100,000 to $250,000: 10 years - Value over $250,000: 5 years Land is not exempt and property tax would continue to be paid on it if its value is above $30,000.

 

 

Additional Flipping Real Estate Articles

 

Flipping Houses for Gold: Three Tips to Help You Find the Perfect Fixer
Many real estate investors enjoy "flipping houses," or buying and selling houses quickly for profit. Not all flips are fixers. However, rehabbers make millions turning ugly houses into dollhouses. On the...
House Flipping - How to be More successful?
People are often stunned about the possible profits that can be made in "house flipping". House flipping describes the process of buying a piece of real estate, fixing it up, selling it and then doing...
Flipping Houses, Flipping Homes for Quick Cash
First, right off the bat, off lets tackle the “Is flipping houses illegal?” question. Flipping homes or flipping anything for that matter, real estate or otherwise, is perfectly legal. The term has recently...
Five Tips For The First Time Buyer
1. Determine your specific needs as a first-time buyer. How much room do you need? Are you concerned about schools? Commuting time? Proximity to family and friends? Is this a starter home, or are you likely...
Flip That House Style Real Estate Investing
I love those TV rehabbing shows like Flip That House. On the show people buy a house needing to be seriously updated and repaired. Usually the kitchen is heavily upgraded with new cabinets, cutting edge...

 

 

 

Copyright © 2006 flippinghousetips.com. All rights reserved