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California First Time Property Buyer Tax Credit

For the San Diego and California real estate market we have to contend with our own Cap & Tax laws going into effect in 2011 that will increase utility costs by 20% over the next five and speeding up the loss of manufacturing jobs. We also have a new, old governor who was against proposition 13 which sets a maximum cap on property taxes and will likely propose new massive state taxes to deal with a $25.4 billion budget deficit.

CTEC courses The first surprise is one you could only find in California. The LLC is charged an $800 annual fee for the «privilege of doing business in California». Oh, joy. The fee is due not at the end of your first year, but within a few months of forming your business. Yes, the door is barely open and you are already getting hit with state expenses!

There are four key factors that determine growth; they are population density, the local economy and the job market, half price or affordable housing, and the 10 key indicators of a growth path.

CTEC classes Tyler: In «Rich by Choice» you talk about how much insurance a person needs and which ones are essential. Would you give us a summary of your opinions on insurance?

=> Make sure that you are going through all the guidelines. Borrowers need to be first time home buyers to get qualified for the federal government’s tax credit. But this is not necessary in the case of the state program.

CTEC approved provider The new bill is AB183 and is much better than the previous bill. It awards credits to in excess of 17,000 homebuyers that are buying existing homes and in excess of 14,000 new home buyers.

These are the liens that did not sell in the sales earlier this year. They were taken over by the county and made available for bid on a first come, property taxes first serve basis. There is no bidding down the interest at these sales, and all certificates are awarded at the maximum interest rate — 18% per annum. The trick is getting in on these tax sales as soon as they open their doors to investors.

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