End Of Year Real Estate Tips Part 2

Performance Property Real Estate Question

Q: Gerald, I’m a real estate professional.  Do you have any year end real estate tips for me? Lance, New Bedford, MA

A: Hi Lance, last week I mentioned that you can reduce your tax burden as a real estate professional for this current tax year by paying more of your business-related expenses before the end of this year and by deferring some of your income til next year.  Here are 3 more year-end real estate tips that’ll get through the winter:

1) Flush your water heaters. This is a cheap and easy procedure that only costs about $30. Flushing water heaters helps to control the buildup of mineral deposits, resulting in a more efficient heater.

2) Service oil or gas heaters.  This is an annual necessity.

3) Inspect your roofs.   Leaking or collapsing ceilings are a nightmare to deal with.

Thanks for your question, Lance.  Good luck.  

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