LENDERS
Citywide Mortgage Company
Michael O'Keefe
3623 Canal Street
New Orleans, LA 70119
504-486-8226 AccuBanc Mortgage
Holly Callia
2121 Airline Drive, Suite 407
Metairie, LA 70001
504-833-1282 or 877-672-8937 Mission Mortgage of Louisiana
Rob Orgeron
3501 N. Causeway Blvd., Suite 311
Metairie, LA 70002
504-836-7461 AmSouth Bank
Marcia Paul-Leone
3525 N. Causeway Blvd.
Metairie, LA 70002
504-838-4627 Eureka Homestead
Rhea Lemarie Gonczi
1922 Veterans Blvd.
Metairie, LA 70005
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Investment Real Estate >Investment Property Exchanges
When you buy an investment property, there are two important financial goals to consider. You will want a property capable of producing rental income. When you sell, you hope that the property will have appreciated enough that you will earn a good profit on your investment. If your property has enjoyed a healthy appreciation, you may need to do some careful planning to avoid paying out most of your profits in the form of capital gains taxes.
When selling your primary residence, you may be able to defer your capital gains taxes when you buy your next home. This does not apply, however, to investment property. If you sell one property then purchase another, the taxes will be due for the year the sale occurred. On the other hand, if you arrange to trade one property for another, you may be able to defer the capital gains tax.
It is not as complicated as it sounds! Many real estate agents and attorneys specialize in helping their clients put these kind of transactions together. You don't have to trade buildings with the people buying your property. The property you trade may belong to a third party, and your buyers need only cooperate with the closing attorney to make the transaction work.
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| Q |
To what process do the terms closing, escrow, settlement and passing papers refer?
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| A |
These terms, which vary in different parts of the country, describe the conclusion of a real estate sale. |
 See More Real Estate Trivia > |
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*Billy Burk and GiGi Gaubert Burk
Burk Brokerage, LLC
Licensed in Louisiana
6260 Vicksburg, Suite A
New Orleans, LA 70124
504-488-8600 : office
504-488-8424 : fax
Licensed in Louisiana
*Billy and GiGi Burk are two of America's NUMBER1EXPERTS™ in the Greater New Orleans area. They have a proven track record that few agents can match! With over 20 years combined experience, these two professionals offer the highest level of service and dedication, adding value far beyond the commissions earned. Burk Brokerage is continually "Redefining Real Estate" by offering expert service on an unparalleled level, making you their Number 1 Client. With a team of professionals providing a wide range of services from landscaping and decorating advice to tax and financial assistance, and backed by over ten years of top producing Real Estate experience, Burk Brokerage is sure to redefine your real estate experience.
Selling Lakeview, Lakefront, Uptown, Old Metairie, Metairie, Mandeville and Covington.
* Billy Burk is co-owner and manager of Burk Brokerage and is not a licensed Realtor in the state of Louisiana.   
 
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