I’m not going to say much, as you can read the article yourself. However, CNN.com is now jumping on board with the same mentality that most intelligent investors have had for months now. It’s a GREAT time to be buying property, especially investment property. It’s about time the media starts cluing in to reality. If you’re one of the ones who are ‘waiting for the bottom’ before jumping in, I can guarantee that you’re going to miss the best deals. Then, your excuse will have to be something else. The early bird gets the deals. Read for yourself and let me know your thoughts…
Valley Real Estate Developer Conley Wolfswinkel gave a ‘pep talk’ at an ASU Real Estate conference this week. In spite of the market’s current condition, he remains optomistic of good times ahead. The article at azcentral.com states:
Wolfswinkel said he believes the current slump will provide some excellent bargains in hindsight for people willing to go against the grain.
"You always make much more money in bad times than in good times," he said in urging conference participants to focus on buying high-quality properties.
I have to agree, fortunes are made in markets like this. If you’re capable of expanding your real estate portfolio, now’s the time to do it. Everyone wants to wait until the bottom of the market before they purchase. However, the problem is that you don’t know it’s the bottom of the market until we’ve moved back up off the bottom- and by then, you’ve missed out.
Here’s an interesting presentation for you. If you don’t know who Elliot Pollack is, then you haven’t lived in AZ for very long. He’s a fairly large and well known Commercial Developer, especially here in the East Valley. He has put out some great data/presentations, as well as his outlook for 2008 and the Greater Phoenix area. Essentially, 2008 might see the bottom of the market- not much different than what we’re already seeing, prices may decline some, etc. However, he also agrees with the long term outlook for Arizona, that we remain strong for job and population growth. It’s a great market for building your net worth and retirement accounts!
Spend some time on his site, www.arizonaeconomy.com, there’s a TON of great info on there!
Are you maximizing your Return on Investment (ROI) and Cash Flow from your Commercial Investment Property? You can apply Cost Segregation tactics to your Investments and save a bundle on your taxes. Essentially, cost segregation is the process of separating out personal property assets from real property assets for decreasing your tax liabilities. Using a Cost Segregation Study, you can shorten depreciation time frames on certain elements in your property from 27.5 or 39 years, down to as little as 5 to 15 years. This allows you to free up more money now to assist with current tax liabilities, or apply to startup costs or other investments. Wikipedia has a great reference explaining how this all works.
It’s always best to have the most knowledgeable people on your team. I became affiliated with the Lackman Commercial Group largely due to their expertise and extensive background in Accounting. Two of the founding members have been CPAs for many years, and can easily assist applying such techniques when purchasing Commercial Property. I don’t know many other Commercial Agents who can assist with the purchase/listing of your property, as well as provide the highest quality and expert advice in maximizing your financial returns. If you would like to purchase or sell Commercial Real Estate, please contact me to see the benefits you’ll have with the Lackman Commercial Group.
In a meager attempt to get the ball rolling on this blog, I decided to throw together a quick Top 10 list. Really, I could go on and on about why you should use a REALTOR®, and I had a tough time cutting this list down to just 10 reasons. The benefits far outweigh any reasoning against it. Now, I’ll admit, there are MANY ‘unqualified’ REALTORS® out there, who are not investors themselves, have never done a deal, and really have no clue what a great deal is. Obviously, as a buyer of Investment Property, you would search out the Professionals who specialize in Investments and make the best decision possible before hiring the guy who left a magnetic calendar on your front door. Let’s move forward…
10. Trusted Name Reputation
9. Required to Stay Current with Education
8. Knowledge of the local and national markets, and knows what a great deal is
7. Duty to protect their client’s best interest
6. Licensed by the State & Required by Law to Follow Specific Guidelines
5. Access to MLS where the great majority of property is listed
4. Gives accurate, unbiased Fair Market Values
3. Purchase Contracts & Inspection Periods!
2. Solid Network of Professionals in the Industry who refer deals!
1. FREE!
10. Trusted Name Reputation - As a REALTOR® your name and reputation IS your business. It’s a people business, and if you’re not trusted in the Industry, you’ll starve. Yes, it makes me sick to see the business card with the wife, kids, and retriever all cuddled up together, and I wonder how much business they get off of those car-wraps we see everyday on the freeway. But you have to give them credit that if they had a bad reputation, they surely wouldn’t be plastering it all over their car!
9. Required to Stay Current with Education- The State mandates that you have a specific number of credited hours of education every couple years to maintain your license. Beyond that, there’s not a day in my life that I can’t open my email, go to the office, or talk to my Team without hearing about a seminar, education event, luncheon, etc going on. It’s next to impossible to avoid it! Staying educated is just a day in the life. Read the rest of this entry »
Welcome to REI Pipeline! I’ve been around for a while, but made the decision to revamp the site to a blog style instead. If you stick around, I’m certain that you’ll find many interesting posts and articles to benefit your Real Estate Investment Portfolio. I’ve got a lot of commentary on the subjects of investing, flips, rehabs, rentals, pre-foreclosures and a wide world of everything in between. So sit back, enjoy the ride, and let’s make some money together! Please feel free to join in and post comments as you see fit. I look forward to interacting with you!
