Top Seven Strategies For Avoiding Real Estate Investment Scams

You've been coveting the corner office for years. "If only I were a manager. I'd rule this place. I would get respect. I would get more money. I would be King (or Queen)." And then you get promoted. But you have no idea what you're doing. And now you're the bad boss. The Michael Scott from The Office. The Bill Lumburg from Office Space. The Miranda Priestly in Devil Wears Prada. Different types of bosses. All bad.

You find a fixer-upper, and determine you can get $98,000 for it when it's done. The expenses of buying will be $2,000. You get repair estimates of $8,000. Carrying costs will be $2,500. The sales commission will be $6,500. Other closing costs will be around $1,500. You figure $1,500 for "unexpected" costs. Finally, you want $10,000 for your effort.

Even if you are renting out offices, you're the landlord. If it breaks, you have to fix it. That means you'll have to pay out quite a bit to ensure the building remains in good condition. There will be a few major bills if you do happen to hold onto the property for many years.

Within this final segment, Robert Shemin teaches us how to take actions, to avoid acting like a RUB and start acting like a Rich Idiot. He teaches us the difference between assets and liabilities; and that you get wealthy by obtaining assets and eliminating liabilities. He also teaches us about stocks, investment funds (Full Guide), business, and negotiating.

The tax laws change frequently, and it's too much to keep up with on your own, even if your background is in finance. Accountants keep up with them and are aware of all of the new tax benefits available to taxpayers.

Instead, let us decide for ourselves and then, as we go out into the world seeking our ideal success opportunity a time will come that if we cannot find it...we will be ready to make it.

Accountants are not cheap. In the San Francisco area, for example, a good one will charge approximately $250 to calculate an individual tax return. But having a tax expert look at your financial situation will more than pay for itself in the long run, and it may be the best $250 you've ever spent. Look for a certified public accountant (CPA), and even better, a CPA who is also a tax attorney. A tax attorney is certified to appear before the Internal Revenue Service (IRS) on your behalf, and can advise you if you're being audited or if you have a lien on your paycheck. It never hurts to have some decent firepower in your corner when you're facing the IRS. In fact, if you owe back taxes to the IRS or to the state, you should call one right now.

For example, he has an advice to people who wants to invest but doesn't have the money to be able to. He says that if you are willing to invest in a real estate property but don't have the dough, try looking for people who have the same interest but don't want to do the work involve with it. They could be retired investors who just want to relax, professionals who are too busy, or anyone who would just want to invest in real estate. Make a deal with them. This way, you'll be able to learn your way around the system and earn money as well. Plus, both you and the investor are earning money. Soon enough, you'll have enough to fund your own real estate property.

Full Disclosure: I am not employed in any fashion by any firm in the securities industry nor do I have a business relationship of any type with the companies mentioned. As of this writing I do have a small holding in LAQ. This is not an offer to buy or sell any security, nor is it a recommendation. These are simply my thoughts on these securities. Please consult your own investment advisor and research any security thoroughly before making any investment.

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