Realty411 Magazine Featuring Lee Arnold from Cogo Capital | Page 90
The 2018 tax plan
Under the new 2018 tax plan, taxpayers who itemize
will be able to deduct their state individual income,
sales and property taxes up to a limit of $10,000 in total
starting in 2018. For expensive homes in states like
California, New York, and others, the $10,000 limit will
diminish deductions which could be used before,
making home ownership even less logical beyond a
certain home price. In states with very high property
taxes, even less expensive homes will reach that limit
and become less attractive taxwise. I am seeing many
smart Silicon Valley hightech people, and others
interested in living in expensive areas, opting to rent
their residence, and buy several (or many) investment
properties in affordable markets where the rent numbers
are good.
The deductions available for rental properties have
not been affected by the 2018 tax law, and in fact a new
deduction, the “pass through deduction” was added,
which could benefit many real estate investors. The
logic behind renting your own residence while buying
affordable investment homes has been taken further by
the new tax law.
People do not have to buy rental homes in the areas
in which they happen to live. I myself own rental
homes all over the United States, as do thousands of our
investors. Since we have a solid support infrastructure
in many appropriate real estate markets, investing in
another state becomes easier, since the local teams in
that market will handle the rentals, maintenance and
support for the investor.
Local infrastructure makes it doable
The local infrastructure in the various markets is
comprised of property managers, local savvy real estate
brokers, maintenance crews, insurance agents, and any
other function needed to support the busy investor, who
may live far away. We have many foreign investors,
who live across the ocean, invest in multiple rental
homes in appropriate markets in the United States.
Our company, ICG, has been holding 1Day Expos
for over 20 years every quarter with market teams,
expert speakers, extensive Q&A and networking etc.
near the San Francisco airport. During these events I
always cover many subjects in detail, including the
subject of this article.
You can attend for free by mentioning this article in an
email to [email protected], register online
(icgre.com/events) using the code FREEREALTY411, or
call us at 8003243983.
Looking forward to seeing you.
About ICG and Adiel Gorel:
ICG (International Capital Group) Real Estate
Investments was established in the 1980’s. Adiel Gorel,
founder and CEO, has been helping people achieve
financial security for over three decades, and in that time
worked with investors to purchase over 10,000 homes.
Gorel is a real estate broker in several states in the U.S.,
an international keynote speaker, and notable author of
three books: Remote Controlled Retirement Riches – The
Busy Person’s Guild to Real Estate Investing, Invest Then
Rest – How to Buy SingleFamily Rental Properties and
Remote Control Retirement Riches – How to Change
Your Future with Rental Homes . He has been featured on
major television and radio networks across the country
and in Fortune Magazine . He has also been featured on
Public Television with his show, “Remote Control
Retirement Riches with Adiel Gorel.” To invite Adiel
Gorel to speak for your group, email [email protected] and
visit AdielSpeaks.com. For more information on ICG
Real Estate Investments visit icgre.com.
90