Realty Blog

Realty in the Mountains Blog
 Steve R Patterson
 46  7728  11/22/2023

Realty Blog

Top 10 Expensive Real Estates in Texas Owned by Former Sports Players

Texas, known for its vast landscapes and booming cities, is home to many successful sports figures. These individuals, with their substantial earnings, often invest in luxurious properties that are architectural marvels. Here are some of the most expensive homes in Texas owned by former sports figures:

1. Crespi Estate - $60 Million

The Crespi Estate, located in Dallas, is a historic limestone mansion designed by renowned Swiss architect Maurice Fatio in 1938. The 27,092-square-foot mansion boasts 10 spacious bedrooms and 12.5 bathrooms. The property was previously owned by Tom Hicks, former owner of the Texas Rangers baseball team.


Becoming an "Accidental Landlord": Homeowners Who Refinanced with a 3% Mortgage Rate

Homeowners who refinanced their mortgages with a 3% rate are now becoming accidental landlords. Get the full scoop in this article!

Homeowners who refinanced their mortgages this year to take advantage of ultra-low interest rates are becoming "accidental landlords," with some opting to rent out their homes rather than sell them. In this article, we'll explore why they're taking this route, the costs associated with it, and what advice you should consider if you're considering doing the same.


Understand the Risks and Responsibilities of Becoming a Landlord

Becoming a landlord involves more responsibility and potential risk than simply owning your own home. It's important to do your due diligence before renting out your property, as becoming a landlord comes with financial, legal, and emotional responsibilities. Before renting out your property, you should familiarize yourself with local rental laws, calculate the costs associated with being a landlord (such as maintenance fees), and make sure you have adequate insurance coverage.

Consider Leasing vs. Selling

If you refinanced your mortgage with a 3% rate and find yourself becoming an accidental landlord, you'll want to consider all of the costs associated with leasing. This includes monthly rent, tenant placement fees, repairs, ongoing maintenance costs, legal fees, and insurance. Additionally, depending on local tax laws you may also incur capital gains taxes when leasing instead of selling. Consider all of these potential costs before making any decisions about renting out your property.

How to Find the Best Deals on Mobile Homes

Looking for the best deals on mobile homes? Get the inside scoop with this guide that provides you all the tips and tricks you need to find the perfect home and score a great deal.

Are you looking for a great deal on a mobile home? If so, you've come to the right place! This guide will provide you with all the information you need to find the ideal home and snag a great bargain. Read on to learn insider tips on how to get the best deals on mobile homes.


1. Research the local market. Check local listings for mobile homes for sale, and compare prices and features to find the best deals. Also, research the local market to determine average prices for mobile homes in your area. 2. Visit mobile home dealers. Mobile home dealers usually offer discounts on select models, so be sure to visit them to find the best deals. 3. Consider a used mobile home. Used mobile homes may require more repairs, but they can be much more affordable than buying new. 4. Look online. Many websites offer used mobile homes for sale. Be sure to read reviews to make sure you’re getting a good deal. 5. Negotiate. When you find a mobile home that you’re interested in, don’t be afraid to negotiate on the price. 6. Consider financing options. There are several financing options available for mobile homes. Be sure to research the options to find the best deal.

Real Estate Wholesaling in Texas - How It Works and Its Benefits

Real estate wholesaling in Texas is becoming an increasingly popular way to make money in the real estate market. It is a strategy where an investor purchases a property at a discounted price, makes repairs or upgrades, and then sells it to a buyer at a higher price than what they paid. This post will explore how real estate wholesaling works in Texas and its advantages.


The Ultimate Guide to Housing for Traveling Nurses

Looking for housing as a travelling nurse? This ultimate guide will be your go-to for all things related to housing. Learn the ins and outs of finding the perfect place to stay now!

Real Estate for Traveling Nurses

Travelling nurses often face the challenge of finding reliable and affordable housing. With this ultimate guide, you’ll have all the information you need on locations, amenities, and costs to help make your housing search a success!

Know What You Want.

Before you even begin your search for the perfect housing situation, make sure you know what your needs and wants are when it comes to a home. Identifying priorities is essential if you want to get the housing that best fits your lifestyle. Think of things like location, amenities, size, cost, and security as these will be important factors in finding the right place to stay.

Location, Location, Location.

Location is one of the most essential details when it comes to finding the ideal home for your travels. Think about what kind of space you need, such as an apartment in close proximity to where you’re working if you don’t want a long commute. Or, if you’d like something with more privacy and seclusion, research living in rural settings or single room properties in more remote locations. Additionally, be aware of any applicable housing ordinances so that you know what restrictions there may be in certain areas.

What Qualifies As Real Estate Professional Activities When Filing Taxes

What Qualifies As Real Estate Professional Activities When Filing Taxes

When filing taxes, some activities are considered to be professional, whereas others are not. The IRS provides the following list of what qualifies as a profession and what does not:

*If you pay someone else to prepare your tax return or review your return for you, then that is considered a service and not a profession.

*If you work in real property management or appraising, this is considered a profession.


In the United States, there are two types of real estate professionals: individual and business. If you are a real estate professional, your profession is considered a business. A real estate professional has specific tax responsibilities that must be adhered to by the taxpayer, including filing a Schedule C or Schedule E.

Real estate professionals have a status that means the IRS considers them experts in the field. They can engage in a broader range of activities than other service professionals.

According to the IRS, real estate professionals include:

-Brokers or salespeople who hold themselves out to the public as experts who are primarily engaged in selling real estate or lending money on real estate;

-Real estate appraisers, except those whose services are primarily related to appraising real property;

-Real estate agents who hold themselves out to the public as experts who are primarily engaged in selling real estate; and

-Real estate developers or contractors who hold themselves out to the public as experts primarily engaged in building, renovating, or repairing the property.

-Real estate agents who hold themselves out to the public as experts primarily engaged in selling real estate.

-Real estate agents who hold themselves out to the public as experts primarily engaged in selling real estate.


If you are a self-employed taxpayer, you need to file Schedule C or Schedule E. The only way to determine if you qualify as a real estate professional is by answering yes or no to the following questions:

*Do you act as an agent for someone else in connection with the sale of real property?

*Do you act as an agent for someone else in connection with the rental of real property?

*Do you spend more than half of your time working in real estate activities?

*Do you have a business structure of sole proprietor, partnership, or corporation?

You are considered a real estate professional if you answer yes to any of these questions.


Some activities that don't qualify for real estate professional status are:

*If you are a certified public accountant or enrolled agent, this is not considered a profession.

*If you conduct real estate business as part of your job, then this is not considered a profession.

*Substitute buying or selling through another person or firm.

*Acting as a subagent by dividing commissions with the agent.

*Paying a commission to the listing agent.

*Representing the buyer or tenant in a transaction.


A few tax benefits come with being a real estate professional. The first benefit is that you can deduct business expenses from your income. This includes any expenses related to the real estate's activity, such as advertising, office supplies, and travel.

Another benefit of being a real estate professional is that you can use the loss from the business to offset other income. For example, if you have a job and your real estate business generates a loss, you can use that loss to reduce the amount of taxes you owe on your job income.

The third benefit is that you can take the home office deduction. If you use part of your home for business purposes, you can deduct a portion of your home expenses. The last benefit is the ability to contribute more money to a retirement plan, such as a Solo 401k or a SEP IRA. To qualify for this deduction, you must be self-employed and contribute no more than 25% of your net income or $51,000, whichever is less.

Young Adults Living With Their Parents To Save Money During The Pandemic

The coronavirus has had a number of profound effects on society as we know it, and it should be interesting to see what the effects are when it is all over. Until that occurs, the Wuhan virus will continue to affect our lives as we have learned in a few ways, ranging from how we look at cleaning surfaces to how we safely run our businesses. One of those effects has been that something that has not been seen for generations, young adults living with their parents as a matter of choice, returning to part of how we live. It should be interesting to see what the effects of this will be long term, but for now, everyone is busy trying to find their balance.

Here's How You Can Target The Real Estate Market Using TikTok

Here's How You Can Target The Real Estate Market Using TikTok

There hasn't been another app that has grown exponentially in such a short period of time as TikTok has. In just a few years, it has more than 800 million registered users worldwide. " target="_blank">reference] It's comparable to bigger social media apps like Facebook and Instagram. So it's only logical to use it as a way to reach a bigger audience for your real estate business.

At first, migrating your business to this platform might feel scary – and risky. But every content can be adapted to TikTok to help expand the business.

In Short Words, What Is TikTok?

TikTok is a social media app that allows users to upload 15 to 60-second videos. A key characteristic of TikTok is that you can place audio in your videos. It can be a song or regular voice audio, what matters is to make creative and interesting content. These videos are mostly funny and unusual from anything you've ever seen on other social media platforms.

Most of TikTok's users are aged between 16 to 24 years old. Most of them might not have money to afford real estate at the moment. Just remember that having exposure and growing an audience will always be good for business. Besides, there are still older people using TikTok, and they are potential clients as well.

How To Use TikTok For Real Estate Marketing

You can use this platform to deliver any kind of content if it's well done. There are probably not too many real estate agents here like in other apps like Instagram or Facebook. See this as an advantage, this is your chance to be a pioneer and to reach a younger audience.

Study the Platform

Just start using the app like you normally would, but this time try to study it. Take a look at the content that's being made, the language they use, the topics they carry. There's no point in creating content if no one's going to watch it, so it's safer to study the platform first.

Understand Hashtags

Hashtags on TikTok work the same as on Instagram. People can follow hashtags and popular hashtags will be displayed more often to users. Just search for #realtor and study their content. See which content gets has more engagement and which hashtags they're using.

Here's a tip: Videos are mostly everything on TikTok. That means that you should keep your captions short and concize to have more space for hashtags. The more hashtags you use, the better. You could also try creating your own hashtag challenges and see how that goes.

How to use TikTok for Real Estate Agents [ Step by Step TUTORIAL + Marketing Strategy ]

Tax Benefits of Being a Real Estate Professional

Tax Benefits of Being a Real Estate Professional

Being a real estate professional comes with a lot of benefits, especially on tax. Most countries including the US have a progressive taxation method. This implies that your tax increases as you continue increasing your wealth. However, as a real estate professional, you can enjoy reduced tax rates. Read on to learn more about tax benefits of being a real estate professional. But first, let’s discover how you can qualify as a real estate professional.

How to Qualify as a Real Estate Professional

To become a professional in real estate, you don’t have to be a realtor with a license. You even don’t have to have a real estate educational background. Here are some of the guidelines that the IRS has put in place to qualify as a professional.

•Number of hours

You have to spend more than 750 hours of actively participating in real estate businesses. The 750 hours threshold is the minimum number. IRS often audits any professional and doesn’t give any reductions in the event some hours are missing.

•Active involvement

About 50 percent of your time needs to be spent in the management and service provision of the rental property. Unless you’re actively involved in the activities of your rental property, you cannot claim passive loss tax reductions.

•Not engaged in another job

You cannot become a real estate professional if you’re in another full time job. As such, most people make use of their spouses who don’t have formal employment to enjoy the benefits. Of course, you cannot afford 50 percent of your time in real estate while still serving another boss.

Tax Benefits of a Real Estate Professional

•Loss deductions

As a real estate professional, you can deduct 100 percent of all losses incurred in real estate against your active income. This means that you get to have a rental property earning your rental income, and still enjoy tax deductions.

For a real estate professional, any income earned through real estate activities is considered an active income for tax purposes only. This implies that a professional can offset their losses using their active income. For instance, if you earn $ 200,000 in a tax year and make losses amounting to $ 50,000, your adjusted gross income is $ 150,000.

Tips For Remodeling Bathrooms

Tips For Remodeling Bathrooms

Remodeling your bathroom may seem straightforward, and many homeowners are tempted to take on the project as it can make a big difference when selling a home. To make sure you don't have problems, here is what not to do when remodeling bathrooms:

Keep space in mind when planning your new look bathroom, as most bathrooms have only a limited amount. A shower door needs to be able to open without having to squeeze past it, and there should be plenty of room for cabinets to open and of course to use the toilet easily.

When replacing surfaces or other bathroom features, use materials that won't warp or attract mold in the moist environment. And they should be able to withstand the often strong cleaning chemicals that most people use to clean their bathroom.

It's always a good thing to incorporate as much space as possible into any new design, based on how many people routinely use it.

Realty in the Mountains Blog

Realty in the Mountains Blog


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