Sunday, December 2, 2007

LITTLE INVESTMENTS THAT BECOME IMPORTANT

THERE ARE OTHER INVESTMENTS YOU MAKE IN YOUR LIFETIME that will seem so little and really have no meaning to you at the time, but they will have real importance. Buying a home is a big investment, but how you manage it plays a very big part of your overall investment. My sister has a home that contains a broken dishwasher that she feels she can do without at this time, but she wants to sell this home and probably will have to replace the item before she puts it up for sale. Doing this will give selling points for the home. Just as giving the home a fresh coat of paint or adding a garage to the house or a deck,etc. , all lead to creating a better investment outcome. Don't put off tomorrow what you can do today. Keep your home as a business and replace and fix broken things right when they happen. In the long run you will save on rising costs of materials, because history shows nothing has come down in cost. The investment part only goes up when we are in a good market. But have you not heard the old adage, buy when prices are low?
MANY PEOPLE SAY THAT THERE'S NOT MUCH PROPERTY LEFT IN THE U.S. but look around. It's there, just costly or needing a lot of work. Past family in-laws bought property on one of those "we'll fly you free" packages in Florida to buy property, which they ended up doing. They sold it ten years or so ago (one block away from Disney World). You just never know what kind of result will actually come from an investment, but again try to do your homework.
WHEN SELLING A HOME OR A CAR even if you sell it as is, put some elbow grease into making it shiny and looking really good and well kept up. I've even done this with any apartment I've had, as I've gotten more mature (Heaven only knows what I was thinking when I was young). The point being, these are investments, and you want a good end result if you plan on capturing the money from these investments. As you get older, have your children or grandchildren help or hire someone to keep things in tip-top shape. In fact, getting older does make it easier to see the importance of all this. But no matter how small anything may seem to you, keep it in mind it's an investment. Don't walk away from it or ignore it, but also remember, it can't go with you once you're deceased. It's only on loan for your possession, not really yours at all. I find this way of thinking puts everything into prospective. And, this is another way of training yourself in handling your money. Keep up the good work!

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