How To Buy A House For Pennies On The Dollar! (1)
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How To Buy A House For Pennies On The Dollar! (1)

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How To Buy A House For Pennies On The Dollar! (1) How To Buy A House For Pennies On The Dollar! (1) Document Transcript

  • 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 commercialproperty. Real estate investing professionals look for all possible tax deductions because of thegenerous profits derived from real estate investing.In addition to this consideration, tax deductions are allowed for expenses incurred in the normaloperation of any real estate investing transaction. Asset protection has to be a concern of real estateinvesting, 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 investingcareer. The first house in a real estate investing career can be scary because it is the beginning of anew business venture. An approach to the first acquisition in a real estate investing career involvesanalysis of the neighborhood.Think of how easy real estate investing would be for you if you had a network of real estate investorsin your area who, several times each month, offered you the opportunity to purchase significantamounts of equity for a severe discount. This is called "Wholesale Real Estate Investing", the processof buying a lot of equity at a very significant discount from another real estate investor who hasalready done the hard work of finding a deal and getting it under contract. Although slower than othertechniques, this method of Real Estate investing can yield a very high rate of return for the carefulinvestor.When the money made from these transactions is used to reinvest in other ventures, the return ratehighly exceeds any other method of Real Estate investing. If you want to change your experience inreal estate investing from one of anxiety, frustration and disappointment to working less and makingmore, youll make the change. Once you change your thinking to accept that you are a marketer first,and a Real Estate Entrepreneur second, youll finally be able to start making the kind of money youreally want to make.If you do not have much money but have lots of time, and you sincerely desire to enter into the realestate field, the simplest way for you to start is to buy homes that need work and fix them up, therebyincreasing their value. It is true that you could make scads of cash but first you need to know all of theins and out of the real estate investing business. Taxes are an integral part of successful real estateinvesting, 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 iswell-versed with the constantly evolving tax code. This is just one technique of the Options strategyof investing but can be a power tool in your investors toolbox to help you control more real estate andbuild wealth. Due to the quick window of opportunity a foreclosure presents, it is important for apotential 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
  • have become financially independent by investing in real estate, and with the proper knowledge andexperience, there is no reason why you cannot do it as well. Twenty-five years ago I made one of thebiggest gambles of my life by starting out with nothing and trying to hit the jackpot investing in realestate.I have mentioned some of the critical essentials to make real estate investing pay off. One of thebiggest myths about real estate investing is that you will get rich quick. However, if you are limitedwith real estate investing educational dollars and need to generate quick return on investment, I thinkfixing up cheap houses is an ideal beginning point.burbank CA real estate