Procuring Lots The Safest Way!
During the latest real estate boom, many speculators were cashing in by purchasing land and finding a buyer who was willing to pay more than what it was originally purchased for. But, land is a great investment as long as you follow these simple strategies to make money.
There is a right way and wrong way to do everything, and buying real estate with a large portion financed is doing it the wrong way. In other words, using your cash will help keep your bottom line stable and secure, without putting your assets on the line. There is no greater peace of mind than to have your home paid off, especially in the unsure times of today. Most people are not in a position to do this, and I am aware of how difficult it can be to accomplish it. For those whom this strategy is a possible or realistic one, real estate is the safest place to store your cash, and avoid being taxed on it.
Building a portfolio of properties that you own, especially without any bank notes, can add much needed income at pivotal points in your life, like retirement. If you earn a six figure income and want to avoid paying the full amount of taxes on it, you can reduce your tax liability on your net sheet by buying real estate. Using your tax money to purchase real estate, instead of simply paying it directly to the IRS, is easier than you might think, and will effect your net sheet in such a way that you will actually pay less in taxes. I do recommend sitting down with your accountant to outline the exact plan to do this as your first step.
If you do not have enough money to purchase a rental outright, maybe you can save enough money to simply buy a building lot and wait until you can save up more money to build on it, after all, there are more than the market needs right now. You can get some very good deals on the building lot market, especially when buying REO lots in bulk. The best investment plan for buying building lots would be a longer term plan that involves buying and holding, due to the fact that they will not yield much, if any, profit for some time in the short term.
I advise people to buy with any means, other than bank financing, due to fees, interest and other prosperity killers. There are other options for getting rentals from the land you own, like doing joint ventures with a local builder, so keep your eyes open and make sure to cover your own assets in all of your business dealings. - 23221
There is a right way and wrong way to do everything, and buying real estate with a large portion financed is doing it the wrong way. In other words, using your cash will help keep your bottom line stable and secure, without putting your assets on the line. There is no greater peace of mind than to have your home paid off, especially in the unsure times of today. Most people are not in a position to do this, and I am aware of how difficult it can be to accomplish it. For those whom this strategy is a possible or realistic one, real estate is the safest place to store your cash, and avoid being taxed on it.
Building a portfolio of properties that you own, especially without any bank notes, can add much needed income at pivotal points in your life, like retirement. If you earn a six figure income and want to avoid paying the full amount of taxes on it, you can reduce your tax liability on your net sheet by buying real estate. Using your tax money to purchase real estate, instead of simply paying it directly to the IRS, is easier than you might think, and will effect your net sheet in such a way that you will actually pay less in taxes. I do recommend sitting down with your accountant to outline the exact plan to do this as your first step.
If you do not have enough money to purchase a rental outright, maybe you can save enough money to simply buy a building lot and wait until you can save up more money to build on it, after all, there are more than the market needs right now. You can get some very good deals on the building lot market, especially when buying REO lots in bulk. The best investment plan for buying building lots would be a longer term plan that involves buying and holding, due to the fact that they will not yield much, if any, profit for some time in the short term.
I advise people to buy with any means, other than bank financing, due to fees, interest and other prosperity killers. There are other options for getting rentals from the land you own, like doing joint ventures with a local builder, so keep your eyes open and make sure to cover your own assets in all of your business dealings. - 23221
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posted by X - Men @ 2:10 AM
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