Welcome to Blueridge Media....
Journalism for Business

"When Flipping Turns to Flopping"
What is Flipping?
With a very active real estate market, and seemingly endless increases in pricing, many people jumped in to the real estate market to realize that investor’s dream – “buy low, sell high” – quickly. That’s a “flip”. Many properties needed little or no work to make them ready for resale – the buyer just happened to be at the right place at the right time to take advantage of a good deal. And it felt really good because real estate can be seen and touched and cleaned up. Real estate took over from the once-hot stock market as the new key to quick profits. Or had it? .... (Full article xxpdf)

"Tax Savings on Real Estate Gets a “Two-fer” in 2005"
The Internal Revenue Service in a new Revenue Procedure (2005-14) has offered up a new tax deferral opportunity for home owners who have turned their original principal residence into an investment or income property. Sec. 121 – Exclusion of gain from the sale of a principal residence - can be used in combination with Sec. 1031 – Like-kind exchange deferral of gain – on the same property. Obviously, the situation has to meet certain requirements – some of which are noted here. .... (Full article xxpdf)