YOU NEED TO PARTNER WITH THE GOVERNMENT TO ADD VALUE TO YOUR PROPERTY.
As the youngest of six children, there wasn’t much in my life I could control. I couldn’t control the food on my plate, the hand-me-down clothes I wore to school or the games I played with my siblings. Don’t get me wrong; I had a great childhood. But one of the things I enjoy most about being an adult is feeling like I am in control of my destiny. That’s one of the reasons I love investing in real estate. INVESTMENTS THE GOVERNMENT WILL PAY YOU TO MAKE IN 2023 3
As a real estate owner or landlord, you have much greater control over the value of your assets than people who invest in most other asset classes. While other types of investors are at the mercy of the stock or commodities markets or worried about the political situation in Washington, you can continue to exert great control over your assets. When you combine that control with a smart tax strategy, you can head into the new year with confidence. What does that look like? You need to partner with the government to add value to your property. When you buy stocks through your 401(k), you can choose when to buy and sell, but you can’t influence the
value of the individual shares. The same is true when you invest in, say, an oil well. There isn’t much you can do to increase the value of that well; you just have to sit back and see how it produces. That’s not true with real estate. There are plenty of ways you can increase the value of your asset. But what many investors and landlords miss is the fact that the government wants you to improve your property — so much so that it is willing to pay you to do it. They do this by offering tax credits and tax deductions on specific activities, creating a win-win situation. The government wins by getting private individuals to pay for something it wants, and you win by increasing the value of your property at little to no cost.
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