May this be the year you GO FOR IT
A new year is a great time to set your real estate goals, and we’d love to help you achieve them.If you’re looking to take the next step toward home-ownership, establishing wealth, and setting yourself up for success in the future, this could be the year you make it happen. May this be the year you.. Become a homeowner [#adulting!] and stop paying your landlord’s mortgage. Purchasing a home can be expensive initially, but nothing compared to the costs of not owning a home over time. Renters take the hit from many directions: they accrue zero equity, are unable to take advantage of significant tax benefits, and all the property value appreciation goes to their landlord.CONTACT US TODAY TO LEARN HOW YOU CAN:1. Buy a home with us, free of charge*.2. Get a raise in your paycheck by buying a home.3. Buy a home with a low down payment.4. Qualify for up to $10,000 in closing costs.*Certain restrictions may apply. Sell your current home and move into your dream home that better suits your needs.Curious what your home is really worth? Click here to get your free instant home valuation. Celebrate your empty-nester status by eliminating all you’ve been unnecessarily storing [for your now adult children] and rightsizing into amenity-filled living.Silver Group® is our unique division providing specialty services to address the challenges associated with a senior move. Whether you personally have questions or you are worried about your parents, we’re here to help you better sell their house, find the right assisted living center, solidify their financial legacy, and organize their estate.To learn more, visit LucidoGlobal.com/SilverGroup. Create a path for financial security and purchase your investment property.“Investing can be scary, but it doesn’t have to be. I made a few mistakes early in my career as an investor that have taught me the smartest ways of doing business. Now, I’m confident that my strategy works to curate the most profit, and I have had the success to prove it,” -Bob Lucido, CEO & President, Associate Broker. For more information on investing, check out our blog, Investing & Pitfalls. Treat yourself and finally buy that vacation house.From the sunny shores of south Florida to the beautiful landscapes in Canada, we have agents that can help you find a vacation home all over the globe.To find a local agent in your desired region, click here and get your vacation home search started today! Now that you’ve made at least one new year’s resolution. You need to be determined to achieve it, so what is the first step? Write it down. If you do not write it down, you do not have a goal. You have a wish.” - Steve Maraboli. Writing your goals down sets you up to be 40% more successful! If buying, selling, or investing in real estate happens to be one of your goals this year, we’d love to help you make it happen. Contact us today so we can start building your game plan for 2023!
10 Mistakes You Can't Afford to Make Before Buying a Home
There are many moving parts involved when purchasing a home. In the current competitive market, you need to be strategic before buying to achieve your goals. Your best bet to score your dream home is by avoiding these common mistakes before the home-buying process begins. If you don’t plan ahead to avoid these errors- you’ll be at risk for potential problems that could be detrimental to the purchase of your home! AVOID THESE MISTAKES! GET YOUR FREE GUIDE TODAY.
INVESTING + PITFALLS
Investing can be scary, but it doesn’t have to be. I made a few mistakes early in my career as an investor that have taught me the smartest ways of doing business. Now, I’m confident that my strategy works to curate the most profit, and I have had the success to prove it. In 1987, I made the decision to invest in what was then called the Easton Building in Old Ellicott City on Main Street. With the help of 2 partners, I bought it for $90,000 with the intention of selling it quickly for $300,000. We achieved this, but ended up having to put another $100,000 into it on top of the initial $100,000 we spent on renovations. Needless to say, we barely broke even. This was a tough loss, but it taught me some of the most important lessons about investing that have guided me to great success investing since. The first lesson is knowing your why. There are many reasons why you should consider buying an investment property. My reason was my daughter, Lauren. I wanted to fund my daughter’s future college education with my investment property profit. Your reason may be to pay less in income taxes, generate wealth for retirement, be financially independent, etc. The reasons to invest are expansive, but you should have a specific reason of your own. Narrowing your goal will help you narrow your path to achieve it. Once you have your why, the second lesson is knowing who you are. Knowing who you are is crucial. The outcome of my first investment deal showed me who I was early on. I did not like being ‘the money guy,’ the one who finances the project, and I knew I wasn’t the ‘hammer guy,’ the one doing all the fixing up. My skills allow me to successfully play the part as the ‘rainmaker,’ the person who finds the deal and makes it happen. Taking ownership of your skill set is important when deciding who you want to be and what role you will best play in the investment deal. The third lesson is setting an objective. When investing, your goal should either be to 1. repair, renovate, and turn a quick sale for profit or, 2. buy and hold for more money, tax savings and appreciation. Keep in mind, it is very difficult to make quick money. I always think long term. By following these lessons as guides, I achieved my goal. I paid for my daughter’s Bucknell University college tuition using only the profits from one investment property in Columbia, MD. pitfalls to be mindful of: Don’t buy the deal - first buy the location and community. Be careful owning an ink pen! [Watch what you sign and guarantee.] Be careful of the potential liabilities - lead paint, communities, asbestos, etc. Consider local properties that you know rather than a great deal out of your state/neighborhood. Know the laws regarding leasing so you can avoid violating any laws. Partner with people you trust. Use only licensed, insured, and bonded contractors. [Uninsured contractors are a huge liability.] You do not necessarily need a property management company. Engage a REALTOR® you can trust with a spotless reputation and career history of integrity. Google any Realtor you are considering and check the Maryland Real Estate Commission judiciary case search. After you have accumulated a strong equity position in your property, consider refinancing rather than selling to avoid tax consequences. . Remember, the hardest thing to do is buy your first rental property, the easiest is to buy the second! If you want to learn how to buy your first investment property for college fund, retirement or just to build wealth, visit RealBobLucido.com. I will be glad to show you how you can become a millionaire using the same framework I myself used to become a millionaire by the age of 30! -Bob Lucido, CEO + Associate BrokerBob Lucido Team of Keller Williams Lucido Agency + Lucido Global
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