Still on the fence about getting your feet wet in the Real Estate Investment Pool? Real Estate Tax Write-Offs – You can amass expense deductions that are direct costs from your investments such as: Property tax and insurance; Mortgage Interest; Cost to maintain and repair the building. The costs of running your real estate business: Advertising, Office space Business equipment and materials, legal and accounting fees, related travel Depreciate Costs… Read More
IS IT WISE TO CANCEL YOUR DEBT?
Debt cancellation can help a beleaguered borrower survive but it also can trigger negative tax consequences. Cancellation of Debt (COD) Income Is Taxable. When a lender forgives part or all your debt, it results in “Cancellation of Debt (COD) Income. “ Although the general federal income tax rule is that COD Income counts as gross income that must be reported on your federal income tax return for the year in… Read More
Investing Habits of the Ultra Wealthy
Ultra-High Net Worth Individuals are those who have net worths of at least $30 million of shares in private and public companies, real estate, and personal investments. It’s easy to believe that secret investment strategies lead to such wealth but overall, the actual strategy is knowing how to make money work for you and taking calculated risks. Here are some of those strategies: Have a Strong Savings Strategy in Place…. Read More
How to Determine Whether or Not Your Investment Property Will Be Profitable
How do you know if an investment property will be profitable? Rule Number One is STILL Location, Location, Location. After that, you can apply these rules: The One-Percent Rule The one-percent rule is simply a rule of thumb that investors use to help them narrow down their options quickly and efficiently. All the one-percent rule says is that a property should rent for a minimum of one percent of its total… Read More
Are you a Risk Averse Real Estate Investor?
High-risk real estate speculating and investing is like walking a tightrope. It’s not for everyone. If you are a risk-averse person and investor, here are some guidelines to keep you on a more conservative path: Avoid highly volatile real estate. Don’t be lured into recession-prone properties such as hotels, senior housing, and oil/gas properties. Don’t take on too much debt. It’s tempting to borrow against real estate holdings and frequently… Read More
ARTIFICIAL INTELLIGENCE IN REAL ESTATE INVESTING: FRIEND OR FOE?
Perhaps you haven’t realized it, but Artificial Intelligence (AI) has already made deep inroads into the world of Real Estate Investment. Don’t reach for your smelling salts, it’s a good thing. Some of the most common uses of AI in the world of the investor are Predictive Analytics, 3D Modeling, Smart Home Devices, and Property Management. When you see an estimate on the value of a property, it’s usually based… Read More