1031 Real Estate Exchanges
Course Description
The objective of this course is to enlighten the participant in the many important aspects of Internal Revenue Code Section 1031. The course will focus on the benefits of the §1031 exchange for the investor, licensed real estate agent/broker and other parties to the transaction. Participants will learn exactly what qualifies under Section 1031 and, furthermore, how to utilize the various types of §1031 exchange formats to enhance their clients' position in the investment real estate market. Real-life examples will be used to illustrate the important procedural issues as well as the IRS Rules and Regulations.
|
|
Home Inspection
Course Description
This course presents an overview of the home inspection business and explains how it fits into the real estate industry as a whole. In addition, the course covers the regulatory bodies and professional organizations associated with home inspection. At the conclusion of this course, the student will understand the methods used to inspect homes, will know what to look for when examining properties, both inside and out, and will understand the various types of inspection reports and the differences between them.
Learning Objectives
- Understand the development of home inspection in the inspection business
- Appreciate an inspector's role at closing in residential sales transactions
- Know the tools needed and conduct expected in the field
- Distinguish various field report styles and know the benefits and drawbacks to each
- Understand an inspector's professional liability
- Recognize the steps in the examination process
- Identify common misconceptions about home inspection
- Value membership to a reputable, non-profit home inspection organization
- Know the extent of home inspection legislation
- Appreciate the different ways states regulate the home inspection industry
|
|
Tax Favorable Real Estate Transactions
Course Description
The objective of this course is to teach the real estate professional how he or she can help clients in buying and selling property on a tax-favorable basis.
In accordance with TREC rules Sections 535.71 and 535.72D, the first two lessons of the course seek to provide a method of real estate purchase using pretax dollars and of growing the estate within a qualified product. We will discuss the application of current tax advantages of using both qualified and non-qualified tax products such as IRA’s, SEP IRA, 401k, Roth IRAs and charitable gift annuities. The use of these applications will provide the real estate professional with the opportunity to create a long standing and profitable relationship with his or her clients, as well as attracting a more sophisticated investor wishing to find an alternative to 1031 exchanges.
The final lessons of this module will explain the many important aspects of Internal Revenue Code Section 1031. The course will focus on the benefits of the 1031 exchange for the investor, licensed real estate agent/broker and other parties to the transaction. Upon completion of this course, the student will learn which properties qualify under Section 1031 and how to use the various types of 1031 exchanges to enhance the client’s position in the investment real estate market.
Learning Objectives
Upon completion of this module the student will:
- Be able to identify motivated buying and selling clients.
- Know the attributes of qualified and non-qualified products and how they can be of benefit to the sales process.
- Be able to identify the restrictive rulings of the 1031 exchange program.
- Know how money can be accumulated using pre-tax dollars, accumulate interest on a tax-deferred basis, and create litigation protection.
- Know charitable strategies of creating income and tax relief for individuals or families owning highly-appreciated real estate.
- Know about Charitable Gift Annuities, and the annuity payments, income benefits and tax advantages associated with them.
- Know the parameters that the IRS uses to define a valid like kind exchange.
- Know the pros and cons of various exchanging alternatives.
- Know the mechanics of a successful tax-deferred exchange and the role of each party in those exchanges.
- Be familiar with exchange documentation and the role of a qualified intermediary.
- Understand what constitutes “boot” and how to deal with it.
- Know how to calculate whether a sale is to be preferred over an exchange.
|
|
Real Estate Finance
Course Description
This course provides an introduction to residential real estate finance, including information on how to underwrite FHA, VA, FNMA and FHLMC loans. Understanding this information will help the student assist his or her buyer- and seller-clients from the initial meeting, through the closing proceedings with basic financing and loan-qualification questions.
In accordance with TREC rules Sections 535.71 and 535.72D, in this course, you will learn the basics of the different types of loans available, loan applications, appraisals, escrow, titles and credit reports, including qualifying for loan amounts and verifying income and assets.
Upon completion of this module, the student will know how to calculate loan amounts, estimate monthly payments, property taxes, hazard and mortgage insurance (for conventional, FHA and VA) and qualifying ratios and income.
Learning Objectives
Upon Completion of this course, the student will:
- Understand the basic concepts of real estate financing, and the key terms involved
- Know how to qualify a buyer for the most common types of loans
- Be familiar with the use and function of escrow accounts
- Know what a Mortgage Insurance Premium is
- Know the underwriting guidelines and process
- Be familiar with the three most common types of loans: Conventional, FHA and VA
- Know the advantages and disadvantages of conventional loans
- Know how to use conventional qualifying ratios
- Know the advantages and disadvantages of FHA loans
- Know about the differing FHA qualification ratios
- Know the advantages and disadvantages of VA loans
- Be familiar with VA eligibility and qualification periods
- Be able to calculate the amount of VA entitlement used
- Be able to calculate VA loan amounts and required down payments
- Know the process and qualifications for assuming VA and FHA loans
- Be familiar with other types of loans available
- Know how to underwrite and close loans
|
