Real Estate investing is getting faster and easier
It takes time and effort for a real estate investor to locate a deal.
There are lots of properties for sale, but finding the deals is not always easy.
Fortunately, many tools and websites are available which provide valuable information and make it easier.
Now, an investor can do most of their analysis on a property before they even see it.
One example is a subscription site called Real Quest (www.realquest.com), which allows subscribers to look at liens, tax records and comparable sales.
Another site, www.zillow.com even shows an aerial view of some properties.
In addition, many of the counties across the U.S. now have free access to tax records on-line.
And, of course, if the investor is a licensed agent they have access to the MLS.
Taking advantage of these and other on-line resources, an investor can calculate the retail value of a property without even seeing it.
Figuring out the offer amount is important, but most deals are won or lost in the relationship developed with the seller.
When meeting or talking to a seller an investor must listen.
Why are they selling?
What is their financial situation?
Where are they moving to?
It's most important to build a rapport.
Just listen; there will be plenty of time to ask questions.
If the investor can give the seller what they need, it's much more likely a deal can be made.
And, it's not always about the price; sometimes they need something else, like a certain closing date, help with moving costs, etc.
Some investors who focus on rehabbing properties don't have time to screen sellers and locate deals.
That's where the value of a wholesaler comes in.
A wholesaler spends their time locating and negotiating deals and then selling them to investors who rehab properties.
The good wholesalers know how to talk to sellers and negotiate the deals.
They provide a valuable service when they buy right.
Sometimes they can even provide financing for the rehabber.
Unfortunately, a problem occurs when wholesalers have to hold properties longer than they plan.
When that happens, holding costs are passed on to rehabbers and prices increase.
The good news is, the Internet is just starting to change that too.
Wholesalers can now use on-line real estate investor auctions, e-mail lists or other creative Internet strategies to quickly find buyers for their deals.
And thanks to the Internet, the wholesaler can cut their holding costs and pass those savings to the rehabber.
As a result, everyone wins.
If you're a real estate investor and you're not using the Internet to locate, analyze or sell your deals, you're missing out on a great opportunity to save time and cut your costs.
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He operates an on-line auction site www.reiauctions.com for real estate investors all over the U.S. to buy and sell their deals.
Death And Taxes - Two Certainties Of Life
(NC)-There are no estate taxes or succession duties in Canada. However, taxes upon death have not disappeared. When a person dies, there is a 'deemed disposition' of all capital property. What does that mean? It means that the government treats all your property (unless jointly held) such stocks, bonds, RRSPs, real estate, etc as sold at fair market value on the day of your death. Your estate will be required to pay capital gains tax on that property.
This applies to your RRSP if you do not have a spouse to whom you can transfer it. Careful planning can reduce or defer the taxes owing. Without an estate plan, you could lose nearly half of the value of your gains to taxes. While your Executor may claim full personal exemptions on your final income tax return, your estate may end up paying taxes at the highest tax rate (over 50%). If you do not have a Will, or if your Will has not been updated recently, it may be a good time to get the job done to avoid tax complications.
What...
Death And Taxes - Two Certainties Of Life
Tax help > Death And Taxes - Two Certainties Of Life
Home Improvements Turn Average Homes into Dreams Come True
If you're thinking about taking out a home improvement loan, there are several options to consider. First and foremost, your mortgage consultant needs to know why you want a home improvement loan. Here are some factors to take into consideration.?How long have you been in the home??Will the improvements increase the property value? ?Are you making improvements to increase energy efficiency??Will improvements be made in one fell swoop, or in stages??What is the current outstanding balance on your mortgage??What is the appraised value of the home??How much will the improvements cost??What improvements will be tax deductible??Do you have other revolving debt that you would like to pay off at the same time??Are you making improvements because you plan to sell the property?The New Tract Home BluesBuyers of newly-built homes are often tapped out after making the initial down payment and closing costs, including upgrades to amenities and the inevitable need for new furniture. Shortly thereafter,...
Home Improvements Turn Average Homes into Dreams Come True
Tax help > Home Improvements Turn Average Homes into Dreams Come True
I'm being audited by the IRS-Now what?
How does the IRS decide who gets audited? The IRS uses a recently updated formula and scoring system to evaluate tax returns. If something seems out of whack- -like low income accompanied by extremely generous charitable contributions--the return is flagged for a more in-depth look. Simple math errors do not warrant audits. What does warrant an audit are things like taxpayers forgetting to report a source of income or getting paid as independent contractors and forgetting to pay your Social Security tax. There are two basic types of audits.
The most common are by correspondence. The IRS may request further documentation by mail. You should send copies only and always keep original records in your files for at least three years, the amount of time the IRS can go back and audit a return. Keep in mind, the IRS may go back indefinitely if they suspect fraud. The second type of audit is face-to-face.
These occur when the amount of documentation requested by the IRS might be...
I'm being audited by the IRS-Now what?
Tax help > I'm being audited by the IRS-Now what?
Taking Control; Safeguarding the Distribution of Your Assets by Making A Will
The Importance of Making a WillA valid will is one of the most important documents you could ever put your signature to, as the consequences of failing to make a will before you die can have far-reaching effects on the people you care about most. Despite the importance of this legal document, it is still the case that only 3 out of every 10 people make a will mainly due to lack of awareness as to why a Will is needed. The 3 most important reasons why a Will should be made are;
- Simplifying Administration Process
- Intestacy & Distribution of Assets
- Inheritance Tax
Where no will has been made the process of applying for the grant is drawn out, causing aggravated...
Taking Control; Safeguarding the Distribution of Your Assets by Making A Will
Tax help > Taking Control; Safeguarding the Distribution of Your Assets by Making A Will
YEAR END TAX PLANNING AND PREPARATION FOR INDIVIDUALS ? Tax Tips for 2004 including new tax relief due to the Working Families Tax Relief Act of 2004
Now is the best time to start thinking about your year end tax planning. These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now will save you money and reduce your tax liability not only with your IRS taxes but also with your state taxes. Here are tax tips that will help you accomplish your goal. MINIMIZE YOUR CAPITAL GAINSReview your capital gains and losses for the year including taxable investment accounts and taxable real estate sales.
If you have net capital gains, you may want to sell some of your investments that have a loss to offset the gain. You should also check your 2003 tax return for any loss carry forwards to 2004.NEW SALES TAX DEDUCTIONNew in 2004 taxpayers who itemize deductions can now choose between claiming the state income tax or sales tax as a deduction. The IRS will provide optional tables for use in determining this sales tax deduction if tax payers don't keep their receipts throughout...
YEAR END TAX PLANNING AND PREPARATION FOR INDIVIDUALS ? Tax Tips for 2004 including new tax relief due to the Working Families Tax Relief Act of 2004
Tax help > YEAR END TAX PLANNING AND PREPARATION FOR INDIVIDUALS ? Tax Tips for 2004 including new tax relief due to the Working Families Tax Relief Act of 2004