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How To Buy A House For Pennies On The Dollar! (1)
1. How To Buy A House For Pennies On The Dollar!
Real estate investing usually begins with the purchase of a house, rather than raw land or commercial
property. Real estate investing professionals look for all possible tax deductions because of the
generous profits derived from real estate investing.
In addition to this consideration, tax deductions are allowed for expenses incurred in the normal
operation of any real estate investing transaction. Asset protection has to be a concern of real estate
investing, and the use of land trusts might be a consideration. My focus in this article is the use of
"cheap homes" as a starting place for a real estate investing career.
I contend that "cheap houses" are the lowest risk property for beginning a real estate investing
career. The first house in a real estate investing career can be scary because it is the beginning of a
new business venture. An approach to the first acquisition in a real estate investing career involves
analysis of the neighborhood.
Think of how easy real estate investing would be for you if you had a network of real estate investors
in your area who, several times each month, offered you the opportunity to purchase significant
amounts of equity for a severe discount. This is called "Wholesale Real Estate Investing", the process
of buying a lot of equity at a very significant discount from another real estate investor who has
already done the hard work of finding a deal and getting it under contract. Although slower than other
techniques, this method of Real Estate investing can yield a very high rate of return for the careful
investor.
When the money made from these transactions is used to reinvest in other ventures, the return rate
highly exceeds any other method of Real Estate investing. If you want to change your experience in
real estate investing from one of anxiety, frustration and disappointment to working less and making
more, you'll make the change. Once you change your thinking to accept that you are a marketer first,
and a Real Estate Entrepreneur second, you'll finally be able to start making the kind of money you
really want to make.
If you do not have much money but have lots of time, and you sincerely desire to enter into the real
estate field, the simplest way for you to start is to buy homes that need work and fix them up, thereby
increasing their value. It is true that you could make scads of cash but first you need to know all of the
ins and out of the real estate investing business. Taxes are an integral part of successful real estate
investing, and they often make the difference between a positive cash flow and a negative one.
Taxation is a key element of successful real estate investing, so be sure to find an accountant who is
well-versed with the constantly evolving tax code. This is just one technique of the Option's strategy
of investing but can be a power tool in your investors toolbox to help you control more real estate and
build wealth. Due to the quick window of opportunity a foreclosure presents, it is important for a
potential buyer to be pre-qualified before engaging in Real Estate Foreclosure Investing.
Since a majority of Real Estate agents focus on "traditional" real estate transactions, mentioning
"foreclosures" might cause them to balk at potentially working with an prospective investor; Therefore,
educating the agent on the opportunity of working with you is important. Millions of men and women
2. have become financially independent by investing in real estate, and with the proper knowledge and
experience, there is no reason why you cannot do it as well. Twenty-five years ago I made one of the
biggest gambles of my life by starting out with nothing and trying to hit the jackpot investing in real
estate.
I have mentioned some of the critical essentials to make real estate investing pay off. One of the
biggest myths about real estate investing is that you will get rich quick. However, if you are limited
with real estate investing educational dollars and need to generate quick return on investment, I think
fixing up cheap houses is an ideal beginning point.
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