Annetta Powell

Calculating the costs and making wise choices in the selection of your properties is one of the keys to ensuring your investment success. You want to avoid investing your money into properties that will be too costly in repairs. If you find these flaws, you may want to think twice because unforeseen repairs can cause the investor more time and money on the property and therefore, you may only break even on the investment. The best way to prevent this issue is to conduct a thorough inspection before you purchase the property. The following list of problems will help you in determining your purchase.

Foundation-When inspecting a property, be sure to look for cracks and crumbles in the walls and ceilings,especially in the basement area. This is a great indication that the foundation is crumbling and may need major repair.

Water and Sewage Problems- Be sure to have your plumber inspect your potential flip for water and sewer issues before you purchase the property. Mold/Mildew and foul sewage smells indicate that there may be extensive plumbing issues. Plumbing and sewage issues can be costly so avoid properties that rack up heavy bills in these areas.

Trees/Property Line issues- Be aware of any issues that concern large and/or old trees on the property and where the property begins and ends. Fences usually help to determine the separation of property but you never know. These issues can create trouble with neighbors and you'll have to get the city involved to determine what part of the property belongs to you and what is yours to fix and sell.

Health Hazards- Avoid buying properties that have asbestos and toxic pollution from chemicals. Also, excessive lead base paints are known for environmental pollution. You don't want to deal with this when selling your property to a potential family.

Residential Add-Ons- If you find a property that has a new addition, i.e. Bedroom or bathroom, be sure that a permit was pulled to build these add-ons before you decide to purchase the property, the less money you spend in bringing the property up to code, the better.

All of these issues can be costly for you. The object is to make money from your properties. You definitely don't want to spend all of your time and energy in a property that will not bring you in a good return on your investment. The search process can be very tedious but you don't want to purchase a dwelling with too many flaws. Take your time and have members of your "A-Team" do the math for you. If the property is not worth the investment, keep on searching. There are tons of distressed properties around your city that will bring you a great profit. Remember, this business takes time and patience but it will be worth your while. Hard work will persevere! Making the right decisions is a critical part of your business. Don't be afraid to ask questions about the property that you are purchasing. Also, don't be persuaded by the seller of the property that these issues are small and can be easily corrected. Go with the advice from the members of your "A-Team". This will save you a ton of money!

So you've decided to become a Real Estate investor and you are ready to make money. You are fired up about your financial future and are ready to begin Finding, Fixing and Flipping your properties. Well let me share with you some important issues when it comes to preparing your business for potential problems.

Before you dive into any business, you want to take time and learn about the tax laws within your state. There are plenty of books and websites that can teach you about tax laws and since they change so frequently, you can also ask members of your "A-Team", such as your Attorney and Accountant. They will help you to steer clear of legal and tax woes.

Decide your company's legal status- In creating your business, you will either form one of the following:

• A sole proprietorship
• A corporation
• A Limited Liability Corporation (LLC), or a partnership
• Or whether you will complete your business transactions using a joint venture

The next step is to have your lawyer draft the proper papers and file them to establish your business.

Prevent Tax Problems- When becoming a Real Estate investor, you can become so focused on making the money that you forget one key part in your entire business. THE IRS! It is wise to consult with your tax advisor and be sure to pay all taxes and pay them on time! Trying to cheat the government is not worth losing your entire business and/or going to jail.

Keeping the Books- Once your business starts to grow and you begin to make large amounts of money, it is best not to attempt to maintain your own record/books. This task can be tedious and time consuming and if you are not great with numbers and figures, you could end up making a costly mistake. This is where your Accountant comes in. Your job is to Find, Fix and Flip properties, so let your Accountant handle the figures. Also, you don't want any trouble when it's time to file taxes. Nobody likes being audited by the IRS!

Also keep in mind that the more money you earn in your Real Estate business, the more taxes you will have to pay. But don't worry, taxes are just a small price to pay for building your own empire!

Be a Responsible Employer- Once your business starts to grow and you start to hire employees, you will have new tax obligations. As an employer, the government requires you to pay withholding taxes, as well as money for unemployment and worker's compensation. You must file a W-2 form for every employee who works for you. If you are not familiar with employment taxes, it's a good idea to consult with your Accountant to learn this information. Also, NEVER pay an employee under the table. This can create problems and issues with the IRS. In order for your business to be successful, you want to follow all the rules. You have worked so hard to grow your empire and you don't want to risk losing your business!

These are just some of the things to think about when starting your business and preventing problems that can cost you. Remember, this business is your key to financial freedom so follow all the rules when it comes to the IRS!

Sincerely,

Annetta Powell

Vision Investment Real Estate Tips

Watch your Credit Score!

This is important if you want to become a homeowner! Make sure your credit score is at least around a 620 or above.

Define what you want and need!

Define what kind of home you want and what it is that you need in your first home. This will aid Vision Investment Corporation in helping you find your first home!

Examine your finances!

As a first time homebuyer, it is important to examine your finances first and determine how much you can afford to spend on your first home!

Start with Confidence!

Purchasing your first home is a very exciting venture for you and your family! Don't be discouraged; remain strong and confident in your decisions as you purchase your dream home!

Buying a home is one of the most important decisions you will ever make in your life. There are many factors that come into play when deciding to buy your first home. Some questions that may pop into your head are "Can I afford a house?", "How much house can I afford?", "What are the advantages and disadvantages?". Every one has thought about home ownership at some point and time or another. To rent or not to rent is usually the question.

By owning a home, you will find yourself in control of your immediate surroundings. You can change things and decorate. You do not have to seek someone else's approval if you decide to remodel or alter the landscaping. As the saying goes, "Your home is your castle". In owning your home, with each mortgage payment, you are "buying" something tangible, building up equity. The longer you own your own home, the larger your equity.

There are many financial and personal reasons why you should own your own home rather than rent. The obvious reasons include pride of ownership, building your own equity instead of someone else's, no more landlords, and of course the tax benefits you reap. There are a multitude of other reasons why owning your own home can make your life better.

When considering buying your own home, you need to answer some pertinent questions:

• How much can I afford to pay in terms of monthly mortgage?
• Will paying utilities such as gas, phone and electric fit within my budget?
• How much will closing costs be, considering fees, points paid, etc?
• Do I have enough money for a down payment, and other expenses, such as new furniture?

If you determine that you can safely handle these extra expenses, then you're almost there. Careful planning and crunching numbers should give you an idea of whether or not you can afford to own your own home.

Owning a home is a big decision for anyone. Once you are into your dream home, you have to plan on staying for a certain number of years to realize any profit from selling. Do not buy a home that will end up hating. Do your homework and make the right decision for you and your family!

If you are ready to make the first move in becoming a home owner and would like to speak with someone who has a proven track record of success, call Vision Investment Corporation Today! Let us handle all of your real estate needs. Call 1.877.799.0820 or go to www.visioninvestmentcorp.com now to schedule a free appointment with a Vision Investment Corporation representative.

You have probably thought to yourself that you will never be able to own your own home. Lots of people have doubts about being able to own a home due to credit issues and lack of cash on hand. Owning a home is a big decision and it requires a lot of thought and careful planning. Don't allow the above mentioned personal issues to keep you from purchasing a home. Be a Winner! Be a Homeowner!

If you are concerned about the lack of knowledge you face when getting ready to purchase a home, there are plenty of resources out there for first time home buyers. You don't have to make your decision alone. The first thing is to get educated and know what you're getting into. This is your money and your happiness on the line. Don't be afraid to ask questions before making your decision. Talk to friends and family members that you trust and have become homeowners. They may be able to offer you some insight about the journey to home ownership you are about to embark on. The idea is to stay positive. Be a Winner! Be a Homeowner!

Once you have decided to become a home owner, there are talented professionals that can help you make your home buying experience a swift and happy one. There are many resources available to you in your community and online that can aid you in your quest for a home. Owning a home is a very rewarding and phenomenal feeling. It means being able to do certain things that you are unable to do when you're renting or living with someone else. It is truly great to be able to have something that you can call your own! Be A Winner! Be A Homeowner!

The ins and outs of purchasing your first home can be challenging but the benefits are surely worthwhile. Home ownership represents a sense of stability and commitment. Also, the pride that you feel once you have purchased your first home is priceless. You have proven to yourself that you can achieve your goals and that you are able to provide your family with the security it needs. Once you have built up equity in your first home, you can leverage your equity to purchase a nicer home later.

Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?

If you are ready to make the first move in becoming a homeowner and would like to speak with someone who has a proven track record of success, call Vision Investment Corporation Today! Let us handle all of your real estate needs. Call 1.877.799.0820 now or go to www.visioninvestmentcorp.com to schedule a free appointment with a Vision Investment Corporation representative.

Be A Winner! Be a Homeowner!