Capitalizing on Tax Time for Real Estate Investors
Tax season may not always feel like the best time of the year for real estate investors as they figure out the huge amount of money they really made and how much they may owe in taxes but it is one of the sweetest times of the year for reeling in extra revenues.
While full time real estate investors have had the advantage of keeping the extra money in their pockets all year long almost everyone else is receiving their big tax refund checks. This means that all of a sudden almost everyone out there, even part time, single parent families have the cash to put down enough down payment to qualify for an FHA loan and those whose credit histories or income is too far gone can choose to either clean up their credit with your guidance to qualify in a few months from now or at least upgrade to renting one of your investment properties.
The flip side to this which many real estate investors are overlooking is that this extra cash also makes it much easier for sellers to move out and relocate. It may not be enough money for them to reinstate far delinquent home loans but it is enough to get into a new rental or at least make them feel richer so that they aren’t so hard to negotiate with.
Investors who recognize this perfect combination of circumstances can kick off the year in a big way by using transactional funding to finance their flips and turn over a large number of properties in an incredibly short amount of time.
Obviously it may be a little late in this year’s tax season to capitalize on this tax money windfall but allow this to be a lesson to start planning your marketing earlier and timing your advertising pushes a little better. That means starting now for next year or let your competitors run ahead of you throughout 2013, cherry picking the best deals and only leaving you the overpriced scraps they don’t want.
On the point of forward thinking, note that meeting with your CPA or tax preparer now is a great opportunity to plan ahead and develop strategies for minimizing taxes due for 2012, versus panicking at the last minute and paying far more than you have to.
Lastly, one more innovative tip for real estate investors with brick and mortar offices can cash in on is allowing a tax preparer to set up shop in their offices. This can possibly add an additional tax deduction, make sure your own taxes get the attention they need, offset your overhead and create new revenue streams as well as giving more control of what local consumers decide to do with their tax refunds.
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