Real Estate Investment Shorts
Real Estate Investing Terms: Depreciation
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What you need to know about DEPRECIATION
Today's real estate investing word is depreciation.
Depreciation is when a property decreases in value. The benefit of that is you can write that off your taxes.
DISCLAIMER: I'm not a CPA or a lawyer. So make sure you talk to those people who understand how that works for you.
So when you get a property, it depreciates... its value goes down with the wear and tear of the property over time. That certain amount could be used to offset some taxes as you build income on a property, usually on a buy and hold or rental.
TIP: Talk to your CPA or tax professional to see how you can best capitalize on the depreciation of your property. They must be spread out so you want to have a solid plan to offset as much of your profits as legally possible.
Make sure you go to DFWTOP.com/words if you want to download 22 Real Estate Investing Terms you need to know. It’ll help you as a new real estate investor sound like a pro.
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