Wichita Homes

Investing in Wichita Real Estate

wichitapropertyguide — Mon, 06 Jul 2009 17:47:54 +0000

Anyone investing in real estate knows how rewarding it can be. The process of due diligence and research and if you get enough experience you can invest and become wealthy very quickly. As a real estate investor is a lot of different types of property that you can invest in. This is no different in Wichita Kansas, as offers a lot of different types of rules state that investors can make a lot of money on. Investing in Wichita real estate can earn you monthly residual income on a regular basis. In Wichita Kansas there are distressed properties these are properties that might need repair. You can inflict these properties and sell them for a quick profit. You should plan accordingly to what the goal of your real estate investing is. What makes Wichita Kansas nights for investing in real estate is a very low-cost of entry. In Wichita Kansas you can easily purchase a three bedroom two bath home for under $100,000. With investing in real estate make sure that you do not go outside of your budget. Never pay more for a property that is worth and always listen to your real estate agent. One of the best Wichita listing services is that the www.WichitaPropertyGuide.com, which offers free listings of great Wichita homes. You can easily browse the listings and find properties that match specific criteria in a matter of moments. Through proper research savvy investor can use Wichita property guide.com to make tens of thousands of dollars in their first year. Also for the savvy real estate agent www.WichitaPropertyGuide.com offers an amazing opportunity to capture a large array of local targeted Internet visitors were all searching for Wichita Kansas homes. Remember never get emotionally attached to a property owning and investing in real estate is business, make sure to treated as business. If you follow the short easy stats investing in real estate can be awarding experience especially when doing it in Wichita Kansas.

Real Estate Investment: These Exciting Times

wichitapropertyguide — Fri, 03 Jul 2009 21:55:17 +0000

What exciting times these are for real estate! In my opinion, this is one of the most opportune times in history for real estate investors and the Realtors who learn how to service them.

Real estate investors—go buy something! The illiquid lending market and foreclosure crisis have worked together to create an ideal market for real estate investment. Real estate is on sale, rental prices are at a premium and the market is flooded with quality renters.

It’s as simple as:

Low Prices + High Rents + Abundance of Renters = Cash Flow + Long-Term Appreciation Potential

Do you know what the number one reason is for missed opportunities and failure to meet financial goals? Procrastination! I used to teach a class on this in my investment advisory days. It is easy to find reasons to procrastinate, and below are three of the most common procrastination “crutches” I see used.

Is the market at the bottom? When investors try to wait for the market bottom, they usually miss out. Why? Because the best indicator that prices were at the bottom is that they are trending upward – and thus the bottom gets missed. If you buy with a long-term hold strategy, it’s less relevant if prices are at the bottom and more relevant that prices are lower than they are going to be at some point in the future (which I think, given today’s market, is a pretty safe bet).

How do I finance a property in this illiquid market? There are many innovative ways to finance investment property purchases and I’ll talk about a number of them in future posts. One of my favorite ways is to leverage the buying power of your IRA funds (and yes – it’s legitimate, legal and easier than you think). I would venture to guess that about 70% of Americans don’t even know this option exists, however, so I’ll be discussing this more in future posts.

What if I am not an “expert” real estate investor? The answer is simple: find credible, knowledgeable professionals to assist with your real estate investment transactions. While qualified, professional assistance is no substitute for performing your own due diligence, the team you assemble to help you can go miles towards helping you achieve your specific investment goals with opportunities that make sense for YOU. There are plenty of investment-savvy Realtors who can help you bridge the gap from novice to seasoned investor while you get a few deals under your belt. The sad reality is that most would-be real estate investors buy books, tapes, videos, and advice from self-proclaimed “gurus” but never get to the part where they actually buy a property.

I am adding an IRA FAQ section to InvestorLoft.com where our SDIRA experts will be happy to answer any questions you have related to SDIRA real estate purchases.

Real Estate IRAs: Five Common Mistakes

wichitapropertyguide — Fri, 03 Jul 2009 21:47:42 +0000

The self-directed or real estate IRA is a powerful tool and growing in its popularity. However, as with any other way of investing your retirement funds, it’s not to be taken lightly.

Rental and other income property can be excellent vehicles that provide long-term appreciation potential and a steady flow of income as you work towards retirement. We spoke with Jenn Dizmang, a national speaker and former securities professional who teaches investors and real estate professionals how to properly use a real estate IRA for some advice on common mistakes that people make in the process.

Jenn shared with us that the following are the most common AND the most easily avoidable mistakes she sees people making with their real estate IRAs:

They either live in or vacation to the property that their IRA owns
They try to let family members use or live in property that the IRA owns
They don’t realize that when an IRA takes a loan, an additional tax may be due called UDFI (Unrelated Debt Finance Income Tax)
They try to lease the property back to themselves from the IRA
They try to do rehab work themselves on a property that is owned by the IRA. (You have to hire a contractor that is an unaffiliated party to perform the work!)

She mentions that all of the above scenarios are easily avoidable, yet failure to adhere to them can jeopardize the favored tax status of an IRA or other self-directed retirement plan. There’s no substitute for professional guidance, she states. But where do investors and real estate professionals looking for information on the ins and outs of real estate IRA investing go?

You can start with InvestorLoft’s previous blog entries on real estate IRA basics.

Using Your Self-Directed IRA to Invest in Real Estate
Real Estate: The Self-Directed Perspective

Beyond those, you can contact any self-directed real estate IRA custodian or third party administrator and they all have very robust collections of articles and information to help you “invest inside the lines.” Of course, it’s always helpful to have a real estate professional who’s knowledgeable about how to purchase real estate held by an IRA. Ask your favorite professional for their experience with the real estate IRA and if they have any resources you can speak with as well.