Why A Team For Real Estate Investment?Written by Steve Gillman
I had a hard time at first with real estate investment. One of reasons was that I tended to be a "lone wolf," trying to do too much myself. I've since learned that to really do well investing in real estate, you need to have a team of people you can trust and rely on. Here are some possible team members, and what they need to be on team. 1. Real estate agent. A licensed agent with experience in area you invest in and access to MLS (Multiple Listing Service), can be a great help. If she is a seller's agent, she can still ethically bring best deals to you once she knows you're a serious buyer. 2. Real estate attorney. This should be someone familiar with laws and legal customs of your area, and have experience with type of deals you intend to do (If you are buying rentals, she should be familiar with doing evictions, for example.) 3. Accountant or bookkeeper. Keeping proper books for real estate investments is getting more complicated with all tax-law changes. Find someone that understands law, and what you want. 4. Mortgage broker or banker. The first can offer many options, but second can make loan decision. Each has their advantages, and you could use both. In either case it's important that they understand what you want (fast closings, lower interest, corporate loans?) 5. Appraiser. Not only can a good appraiser give you an accurate valuation of a property, but they should be able to suggest ways in which you can raise value of a property. Use someone that will talk to you.
| | Successful Trading – Taking Profits - Part 2Written by Chuck Cox
Suppose your position has made a big move and you moved your stop to your purchase price as recommended. Then let’s say your stock continues to make a big move and now we’re asking again questions we asked back in first paragraph. The first profit taking technique you can use is a trailing stop. If you moved your stop to your purchase price, then you’ve already used a trailing stop. Now you can continue to move your stop up as price rises until market “stops” you out of position. So in essence, what you’re doing is letting market decide when to take profits.Bear in mind that you don’t have to use same price gap that was used when you first set your stop. That initial move was done to protect your account – once you’ve taken threat of a losing trade away from your account, you can do most anything with your stop after that. One approach that some traders use is to place their stop at half way point between their purchase price and present price. This approach is giving half of your profits back to markets, but it’ll keep you in market longer giving stock plenty of room to move. A variation of this approach is to move up your stop to 75% profit level after a period of time has elapsed. Another profit taking technique for traders is
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