Tuesday, July 25, 2017

4 Pointers On Real Estate Investing By Stephen Dowicz

By Bob Oliver

Have you given any thought to real estate investing? If not, it might be a good time to start, even as the economy has seen something of a recent slowdown. Knowing how to use your money, whether it is for a home, office, or what have you is vital. Fortunately, notable real estate owner Stephen Dowicz will be able to help. Here are 4 useful pointers on real estate investing that will ensure that you get the most out of your money.

One of the most important things to know about real estate investing is that everyone must have a plan. What are your goals as they relate to this endeavor? Whatever they may be, you should map out the time you are willing to commit and the money you would like to spend. The best way to accomplish this is by setting up a day-by-day calendar. By following said calendar, you will be able to reach the aforementioned goals when you would like.

You must also keep location in mind when it comes to real estate investing. While it is natural to gravitate toward a home that looks nice, it should not come at the cost of an undesirable location. Invest in property that you know will build value, whether it is due to the state it is in or the street it is on. By doing so, a smarter investment will be made, which will mean great things for buyers when it comes to equity.

Tax benefits are part and parcel to the real estate investing process, too. For instance, if you are a property owner and you write off the depreciation as a tax reduction, this is known as a depreciation write-off. This is one of the more common benefits, but consider that there are other write-offs that the IRS might look at for business reasons. For those that are not largely familiar with taxes on property, consulting a tax advisor is recommended by Stephen M. Dowicz.

What about credit scores, which are essential for those that would like to invest in real estate? When an investor has a strong credit score that they have built over the course of time, they are more likely to borrow money without any difficulty. On the other hand, someone with outstanding payments may not receive the amounts that they are looking for. Before making this type of an investment, any discrepancies should be resolved.

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