Real Estate Investing - Back in Colombia

So here I am, back in Bogota, Colombia.

It takes some getting used to...living in foreign countries. I have moved around quite a bit over the past ten years. While moving within the US, my friends would ask why am I doing this? I used to joke that it was all part of my gradual world tour. Many years later I have started the world tour and am having a blast at it. It's not all roses as some would have you believe. There are challenges just like living in the states. Sometimes the challenges come unexpectedly and you need to scramble to solve problems.

While most places have technology these days, in the third world one has to learn not to fully rely on it. On my last expedition here I was without power for at least five hours at least three separate times. We were WITHOUT INTERNET and cable for a week one time. To top it off on my last day we had a 5.9 earthquake. While a 5.9 quake is really not that big of deal, it just so happened to be the same day that Manuel Marulanda, the leader of the FARC (guerrilla) died. If the guerrilla were going to make a statement they were still strong by blowing something up, that would have been the day.

So let's talk a little bit about Real Estate.

Have you seen this site? www.youwalkaway.com

They claim that people can walk away from deficiency judgments in five different states. Sounds a little too good to be true. I am curious if anyone knows about this company?

*********************************************************************

The Housing Assistance Act of 2008 was passed by both houses and signed into law by Senor Bush this week. It contains a few not so nice surprises for the unexpecting taxpayer according to an article by Eva Rosenberg published this week in MarketWatch.

Rosenberg is the founder of www.TaxMama.Com, and is licensed to argue on behalf of taxpayers before the Internal Revenue Service. She has just written a new e-book entitled "The 100% Home-Based Business Tax Solution."

According to Rosenberg, the bill, which is intended to assist homeowners on the verge of losing their homes, "is likely to cause more upset than calm" for taxpayers.

She outlines several areas where the tax law was changed along with housing law and warns that there are pitfalls with each.

The bill grants tax credits of up to $7,500 to those purchasing new homes. Those eligible are people who have not owned a homestead residence for three years. The credit can represent up to 10 percent of the purchase amount and couples can each purchase a home although they have to split the credit.

Read the full article here http://www.mortgagenewsdaily.com/812008_Housing_Bill_Tax_Implications.asp

And that's a wrap.

From Bogota Colombia

Matt Gerchow
www.real-estate-investing.com