This month, attorney King, who “brought the house down” in 2016 at a SWIG Meeting, is back with some more killer information that you cannot get anywhere else. The topic this time around is tax sales and Brad is going to help us better understand the process in PA and how to purchase them successfully.
Come hang out with some of the coolest real estate investors on the planet who all just happen to be from Westmoreland County. 😉
Otis, Jerry, and I are all having our annual investors picnic. For SWIG, this will be in lieu of our monthly meeting. If you have kids, bring them. There is usually some type of fishing derby, corn hole, and brownies. And burgers. Lots of burgers.
What questions do you have? Where are you getting stuck? The choice of subject is up to you: land-lording, flipping, wholesaling, lease options, setting up your business, what path should you take to get to freedom?
The Sky is the limit. Come. Network. Learn. Make new friends.
See you there.
This month, Mylo from Green Home Solutions is going to give us the low down on mold. We’re going to talk about what causes mold, what to do if you find mold, how to test for it, and best practices for remediation. See you May 17th!
This is a DO NOT MISS. It won’t be recorded. He may never do it again live. At this meeting, Brandon is going to show you a brand new framework he put together for helping you rapidly evaluate the repairs that are needed for a house.
Whether the house is a rental, or a flip. It doesn’t matter. Everyone is going to learn something valuable from this meeting.
Quickly determining repairs can sometimes mean deal, or no deal.
And it’s up to you to decide to learn to do it fast…and foolproof.
At the March Meeting, Brandon is going to be discussing some local markets in Westmoreland county. Come learn which markets are hot, which are not. Learn where “business is booming”, and which are retracting.
Plus, Brandon is going to Share 7 tips to keep you safe during any economic down turns.
With tax season here, here are a couple of quick power plays you can take to save you some money on your 2016 taxes. I will keep this short since right now your time is better spent taking action to save you money rather than reading about how to save money on your taxes.
Group your deductions. If you are close to exceeding the standard deduction, consider making another charitable contribution for 2016. Pay your real estate taxes early if you are able, make an extra mortgage payment, even pay your winter session college tuition before January 1. Don’t forget to get receipts together for your charitable contributions and if you are 70 ½ or older consider having a charitable contribution made directly from your IRA to your favorite charity.
Use your FSA funds. If you have money left in your FSA now is the time to stock up on your refills, get new glasses or sunglasses, get that missing crown done, or even pay your next month’s orthodontist bill. Remember your FSA is a use it or lose it account so make sure you use it!
Save for retirement. Put money into your retirement. If you are self-employed you only have to set up a Keogh or 401(k) plan by December 31. Remember you have until April 18 to make contributions to your IRA.
Harvest Losses. It sounds complicated, but “loss harvesting” or selling investments that are down, simple means taking the loss intentionally to help offset gains you had through the year. If you have more losses than gains or more than $3,000 in excess losses, you can carry any remaining loss amount to the next year and you can continue to do that until you use up your losses. Remember if you sell stock to harvest the loss, you’re prohibited from purchasing substantially similar stock 30 days before or after the sale that generated the loss. For mutual-fund shares, you can reinvest the proceeds in a similar stock. That said, I wouldn’t recommend changing your investment strategy just to harvest a loss for tax savings unless you are sure it will benefit you in the long term.
And if you aren’t sure about a tax situation or which strategies might help you, now is a great time to consult a Tax Pro. Though many returns might not actually be processed until after February 15 – more on that another time, there is no reason not to get your return ready and file it early. Happy New Year; here’s to keeping more of your money in your pocket in 2017!
Article via huffingtonpost.com “2016 Final Countdown Quick Tax Tips”.
Join us on January 18th at our “new” location Gianilli’s II. Everyone will have the chance to order food again (Wednedsay night pizza & salad buffet!) etc. Brandon will be discussing SWIG 2.0 & 2017 #YBYE (Your Best Year Ever). In the mean time, here are some goal-setting tips to get your 2017 started off right:
“We all have two choices: We can make a living or we can design a life. Here’s how to do the latter. Life is designed in such a way that we look long-term and live short-term. We dream for the future and live in the present. Unfortunately, the present can produce many difficult obstacles. But setting goals provides long-term vision in our lives. Here’s a closer look at goal setting and how you can make it forceful and practical:
1. Evaluate and reflect.
The only way we can reasonably decide what we want in the future and how we’ll get there is to know where we are right now and what our current level of satisfaction is. The purpose of evaluation is twofold. First, it gives you an objective way to look at your accomplishments and your pursuit of the vision you have for life. Secondly, it shows you where you are so you can determine where you need to go. Evaluation gives you a baseline to work from. Take a couple of hours this week to evaluate and reflect.
2. Define your dreams and goals.
One of the amazing things we have been given as humans is the unquenchable desire to have dreams of a better life and the ability to establish and set goals to live out those dreams. What are your dreams and goals? This isn’t what you already have or what you have done, but what you want. Now, prioritize those dreams. Which are most important? Which are most feasible? Which would you love to do the most? Put them in the order in which you will actually try to attain them. Remember, we are always moving toward action—not just dreaming.
3. Make your goals S.M.A.R.T.
Goals are no place to waffle. They are no place to be vague. Ambiguous goals produce ambiguous results. Incomplete goals produce incomplete futures.
Always set goals that are measurable. I would say “specifically measurable” to take into account our principle of being specific.
One of the detrimental things that many people do—with good intentions—is setting goals that are so high that they are unattainable.
The root word of realistic is “real.” A goal has to be something that we can reasonably make “real” or a “reality” in our lives. There are some goals that are simply not realistic. You have to be able to say, even if it is a tremendously stretching goal, that yes, indeed, it is entirely realistic—that you could make it. You may even have to say that it will take x, y and z to do it, but if those happen, then it can be done. This is in no way to say it shouldn’t be a big goal, but it must be realistic.
Every goal should have a timeframe attached to it. One of the powerful aspects of a great goal is that it has an end—a time in which you are shooting to accomplish it.
4. Have accountability.
When someone knows what your goals are, they hold you accountable by asking you to “give an account” of where you are in the process of achieving that goal. Accountability puts some teeth into the process. If a goal is set and only one person knows it, does it really have any power? Many times, no. A goal isn’t as powerful if you don’t have one or more people who can hold you accountable to it.
Article via success.com “4 Tips For Setting Powerful Goals”.
The Westmoreland County Food Bank is a private, not-for-profit organization that supplies food to hungry people through a network of food assistance programs in Westmoreland County. Our 40,000 square foot facility is located in Delmont, Pennsylvania. Of each dollar donated to WCFB, $.95 goes to food and food programs.
Hunger and food insecurity are serious problems in America and throughout Westmoreland County.
By acquiring food through local donations and government food assistance programs (State Food Purchase Program and The Emergency Food Assistance Program) WCFB serves the community in several ways…
We believe that by pooling together all of the community resources, we can make a significant difference in the fight against hunger.
*IMPORTANT: Location change to Gianilli’s II!