I was reminded that yesterday’s post was a little pessimistic.
One [tag-tec tax]person[/tag-tec] thought I dwelled entirely too much on taxation. He was right.
That brings up an incident I remember many years ago when my father and uncle were having Christmas dinner and talking business.
“I never thought about taxes,” my [tag-ice tax]uncle[/tag-ice], a car dealer said. “I just went out and made the money.”
My Dad agreed. The first thing anyone can do is make the money. Then go out and find the very best experts to walk you through the tax process.
How does that relate to real estate investments?
We need to concentrate on our investments. We shouldn’t lament about taxes too much and too often. Basically tax is something we can’t control. And it gets us off balance if we obsess on the subject too much.
However, as I pointed out in the last few posts, I think a trend is developing. I think the windfall days of increasing property taxes almost indiscriminately is about over. When the saturation point is reached, the public will protest. In my opinion, we’re almost there.
In the meantime, what should we be thinking about?
The new market for 2007. New goals, new opportunities.
What are the new opportunities?
Affordable housing, rehabs in pre-trendy neighborhoods, REO’s.
But here’s an additional bonus that may come our way. Should interest rates rise, even a tad, many may panic and start selling their second homes and condos. Should that flooding occur we’ll see some fantastic deals.