Tuesday 18 April 2017

Three Mistakes Every Real Estate Investor Should Avoid

A lot of people invest in real estate, but not everyone knows exactly how to make the most out of their investment especially in a slow property market. Below are three common mistakes you should avoid if you want to win the uphill battle of being a real estate investor.

Image source: mysquareonecondo.ca

Not claiming all the legitimate items you can

You can get a lot from valuable tax savings by claiming items such as smoke alarms, security systems, swimming pools, and even garbage bins. Light fixtures and fittings with a depreciable value below $300 can be claimed during the first financial year.

Rushing the deal

One of the biggest mistakes an investor can make is to jump the gun and sign the deal. A lot of times, investors just want to get the deal over with. However, staying calm and patient while executing a deal is of utmost importance. Do not ignore the paperwork.

Not getting professional help

Some investors think that they can do it on their own. You will actually save more in the long run by employing the help of a professional realtor because they know this backward. And a lot of investors don’t realize that hiring a professional agent is completely tax deductible.

Image source: pinefinancialgroup.com

Hi there, I’m Radha C. Singh from Hazlet, New Jersey. I’m a real estate agent and a part-time fitness instructor. Follow me on Twitter to get regular updates on the real estate industry.

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