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Cash Flow, Profits And The Cash Conversion Cycle
Calculating cash flow is one of the most important tasks of the business owner. Revenue and expenses are rarely constant in a business and cash requirements need to be planned for shortfalls, seasonal factors or one time large payments. At the...
Change Management Can Lead to Rigidity and Resistance to Change
"Today's successful business leaders will be those who are most
flexible of mind. An ability to embrace new ideas, routinely
challenge old ones, and live with paradox will be the effective
leader's premier trait. . . Leaders will have to guide...
Developing Your Mission
"The best Leader is one who knows how to pick good people to do what he or she wants done and self-restraint enough to keep from meddling with them while they do it." - Heidi Richards - Developing Your Mission Mission statements describe the...
Not Another Ice Breaker! Team Building with a Purpose.
"We just don't work as a team!" Janet, a group manager for a large insurance company, was complaining to Larry, her human resources consultant. "Everyone just seems to do their own thing, they don't share information, don't try to help each other,...
The Project Management Mindset
Project management as a science and art is undergoing key transformations as a result of countless stories of failed projects, cost overruns, and canceling that project that took 2 years of your employee's lives. Needless to say, these scenarios...
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I Wanna Hold Your Hand: First Time Homebuyers
The Empowerment of Owning Your Own Home
Purchasing a home is one of the most powerful and terrifying events of a persons life. It is a challenge, but once this challenge is met with strategic planning, knowledge and excitement it becomes an investment. One that will change your financial future and bring more return than you ever imagined. The first step is finding a real estate agent with integrity and experience. The perfect agent will be one who fosters trust, believes in buyer education and offers emotional support. Over time seasoned buyers come to view these agents as partners in locating and analyzing the best investments available.
Dont Be Afraid of Cold Feet
A first time buyer should expect to feel an initial wave of buyers remorse. There is always a moment of panic or doubt right after the first offer is made. Dont hesitate to ask your real estate agent questions and to communicate your fears. The agent is there to explain each step of the transaction and to interpret local and state laws. Remember that buying a home is a long-term investment. Most properties increase in value and if the purchase is planned well you will have more money in the end. Let the real estate agent know your plans for the future. Is there a chance you will rent the property later? Do you plan to live in the house for less than five years or more than ten? Think clearly and consider all the possibilities. If you are buying an older home be realistic. Prepare for repairs and hard work. Expect to make changes and improvements that will increase the return on your investment.
Building a Foundation For a Better Life
The benefits of ownership can change the financial profitability and personal outlook of ones life. The power of purchasing property creates a refreshed sense of security and freedom. The tangible pay
off of seeing your money in action creates confidence and pride. Renting takes only the present moment into account, buying allows you to invest in your own future. Unlike unpredictable rental fees, mortgage payments are stable or increase gradually. A mortgage payment increases your credit score and opens doors to other investment opportunities. A successful purchase allows you to personalize your living space, which gives you the motivation to stay on top of your investments. Take a look at your neighborhood and become more inspired, more proactive. Build the perfect atmosphere and home and look forward to an even more exciting return on your investment.
Tax Incentives Make Buying The Better Choice
Buying a home allows you to build equity and have huge tax breaks. Mortgage interest and annual local and state property taxes are deductible. Since the first few years of mortgage payments are mainly interest, and therefore deductible, the savings is amazing. Up to $100, 000 interest on home equity loans can also be deducted. Loans and interest on loans used to improve a home with the intention of renting can be deducted, as well as, mortgage interest on second homes if you rent them. Capital improvements made to increase the value of a home can be recorded and reduce the capital gains. To explore all of the tax advantages of purchasing and owning a home remember to consult a professional in your area. The joy and accomplishment of ownership are waiting for you!
About the Author
Elaine VonCannon is a REALTOR with RE/Max Capital in Williamsburg, Virginia, and she manages investment property as part of her business. Elaine is also an Accredited Buyer's Representative as well as a Senior Real Estate Specialist. She has helped numerous clients invest in and make money on property in Southeastern Virginia.
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