How To Use The Internet To Perform Due Diligence On Real Property

 

As far as I’m concerned, the Internet is one of the greatest inventions of all time, and ranks right up there with flush toilets, sliced bread, and basketball! For real estate investors, the Internet is the single best property due to diligence research tool available. Especially for investors who are located in counties where property tax rolls are online.

If your county’s property records are available online, you can quickly find out who owns a property, when it was purchased, how much it costs and its tax-assessed Continue reading “How To Use The Internet To Perform Due Diligence On Real Property

How to Choose a Real Estate Investment Strategy That’s Right for You

Thomas J. Lucier - Avoid Bad RealtorsUnfortunately, there are no cookie-cutter strategies, which will work for all investors in every single real estate market nationwide. And that’s exactly why, when you’re starting out in this business, you must take your time and carefully analyze a real estate investment strategy and take into account, the:

1. Temperament, knowledge, skill and experience needed to implement the strategy.
2. Amount of cash and credit needed to finance the strategy.
3. Amount of time and energy needed to complete the strategy from start to finish. Continue reading “How to Choose a Real Estate Investment Strategy That’s Right for You

How to Earn Tax-Free Income as a Serial Homebuyer

Thomas J. Lucier - Avoid Bad Realtors
In my opinion, the capital gains tax exclusion that was granted to homeowners under the Taxpayer Relief Act of 1997, is the single best, wealth-building opportunity, that’s ever been made available to the average American. That’s because, under Section 121, of the Internal Revenue Code, a single homeowner can exclude, up to $250,000, from the sale of their principal residence, from capital gains tax, and a married couple, filing a joint tax return, can exempt up to $500,000. The only requirement is that a homeowner must have owned and occupied their home, for a total of twenty-four out of sixty months, prior to the sale. And best of all, homeowners can use this home sale tax exclusion, every two years, until they depart Planet Earth. Continue reading “How to Earn Tax-Free Income as a Serial Homebuyer

How to Negotiate the Best Deal for Yourself

Thomas J. Lucier - Avoid Bad RealtorsTo me, real estate negotiations are about two things and two things only: Price and terms. And that’s why your objective during negotiations, should always be to obtain a purchase or sale price and terms, which will give you the best possible deal. By “best possible deal,” I mean a price and terms that an investor can realistically expect a seller or buyer to agree to, which will allow them to earn, what they consider to be a reasonable profit, from the property.

For example, when I am negotiating to buy a small mismanaged residential rental property, the best possible deal that I can realistically expect to receive, is a purchase price that’s twenty percent below market value and owner financing In this business, knowing how to negotiate the best possible Continue reading “How to Negotiate the Best Deal for Yourself