Buying a piece of land for farming or a ranch can be a truly rewarding hobby or a lucrative business. With rural living comes a peace and tranquility not offered by big cities plus cleaner air and living life with animals to care for.
If you are asking the question How To Buy Eos in Albania? Yet there are always things you need to know before you set out. You should consider these below before you buy land.
Buying land doesn’t have to be tricky if you have the right people helping you every step of the way. You will need a team of professionals you can call like agents, brokers and maybe even a lawyer. Buying a farm is quite different then buying a residential lot. This may seem obvious but have you considered what it means to purchase bulk acreage. Have you surveyed this acreage and made sure that it will meet all your requirements?
First, have all your financial ducks in a row, so to speak before you even begin looking to buy land. You will be ready to buy as soon as you find what you’re looking for, if your finacing has already been secured.
How To Buy Eos Albania
Secondly, you should choose an agent who has experience with selling farm land since there are many specifics involved in terms of paperwork and land requirements that everyone will need to be on the same page about. The USDA’s website has all the documentation for many different types of land purchases.
Steps to YOUR Financial Freedom.
1. Realize Financial Independence Can be Achieved! There is a difference between a wish and a plan. Many people spend time worrying and wondering about their financial future. Yet only about 5% of Americans reach financial independence even though we are the richest people on the planet. So, is it time for you to KNOW and BECOME financially independent? If so, then it's also time to THINK, PLAN & ACT your way to financial independence.
2. FOCUS on Being Financially Independent.
Invest $1,000 - ? annually in your own skills training in order to double your income.
Shift your ideas about money. If you believe that money is bad or rich people are greedy it's time for a change. Financial abundance is joyful, fulfilling and fun.
Make substantial changes in your spending habits. Cut your expenses by 25-40%. Cutting expenses is a step in FREEDOM! When you cut expenses you: move toward your dreams; aren't chained to a "bad" job or relationship; fund your ideas and plans of being financially independent.
Ken & I have experienced two major periods where we drastically cut expenses. Reducing our savings/investments wasn't an option. Both of these experiences have the end result of greater opportunity, fun, fulfillment and joy! The first time we cut expenses was when our son was accepted to a private mid & high school. The tuition was steep. We paid for it all ourselves without accumulating debt. Second, Ken was laid off and decided to develop his own business. We cut expenses so he could launch a now successful business.
Here are just a few of the things that you can do:
* Keep your cars. Make sure you keep vehicles looking & driving like new. Friends who ride with us comment that our cars must be about 3-4 years old. Our cars are now 13 & 15 years old. That's the kind of care we give our vehicles. (Have you read the Millionaire Next Door? Some of your least ostentatious neighbors are wealthy and living their dreams!)
* Highlight or color your hair at home. Highlighting or coloring your hair at home can save about $140 a month or $1740 annually. Home color is about $10/month or $120/year.
* Teach your children the difference between filling an empty heart through things and nourishing WHO they are through their own creativity and contribution. Children/teens are becoming increasingly isolated by "things" given to them from their parents i.e.: a TV or computer in their room; a cell phone or text messaging especially with unlimited use; a car; or designer clothing. Cut expenses and spend more time nurturing your children/teens involvement, relationships, creativity, and the joy of being who they are!
* Eat out only 1-2 times per week. Eating meals at home is great for connecting with your family, is higher in nutrition and saves money!
* Stop the Starbucks. I was spending $3.84 X 5 days a week on my Venti Decaf Mocha. That was $921 a year. Also that beverage has 480 calories! So, I'm saving 115,200 calories a year!
* Muffle the Mouse. We now have 24/7 access to shopping. It can be fun and expensive. Either place a budget for online spending or avoid surfing the online stores.
Tired of dismal stock returns and lack of control over your retirement funds? Many investors are accessing tax advantaged retirement funds to realize the security and returns offered through real estate and note investments.
Through the power of self-directed retirement accounts, you can legally access IRA, 401(k), SEP or other retirement funds for alternatives to the traditional stocks, bonds, and mutual funds.
The Word is Out
While self-directed retirement accounts have been around for several decades, they are now catching the attention of investors and financial planners alike through educational materials and articles published by mainstream publications.
The Wall Street Journal has run several articles on notes and real estate in retirement accounts including "Using IRAs to Buy Mortgages Boosts Benefits" (Section B6, December 15, 2004). Additionally, plan administrators are increasing education to include accredited instruction on the power of self-directed retirement accounts for real estate agents, accountants, and financial planners.
Count the Benefits
It makes financial sense to harness the opportunity for legal tax deferral offered through Individual Retirement Accounts (IRAs) and Qualified Plans (401(k), Profit Sharing, etc.). Consider some of the benefits:
Contributions might be tax deductible or made with pre-tax dollars allowing you to save money AND receive an annual income tax benefit
Earnings and gains accumulate tax deferred or even tax free in the case of a Roth type IRA
Plans can be opened with as little as $500 or less with the option of contributing up to $49,000 annually under certain plans in 2009
Initiate a tax free transfer or direct rollover of funds in an existing IRA or 401K account to a self-directed account
The self-employed or business owner can take advantage of allowable contributions for both the employer and employee
The power of self-direction enables higher yielding investments including investment real estate, rental homes, options, notes, tax liens, factoring, discounted receivables, LLCs, and the list goes on
Participate in larger investments by partnering self-directed retirement funds with others
Utilize the power of leveraging real estate within a self-directed retirement account (certain restrictions apply)
Watch Your Money Grow
Still looking for motivation? Investing just $160 per month at a 10% monthly compound yield will grow to $1,011,852.73 in 40 years. Even better, investing $450 per month at the same yield will grow to almost 3 millions dollars ($2,845,835.81) in those 40 years. Managed correctly, this investment could be made with pre-tax dollars with earnings tax deferred until distribution or withdrawal.
The average investor may wonder how they will ever achieve a 10% return in a low interest rate market where the prime rate is 3.25% and banks are paying investors around 2% on certificates of deposit (CDs). Fortunately, note investors know how to tap into double and sometimes even triple digit returns.
Buying a piece of land for farming or a ranch can be a truly rewarding hobby or a lucrative business. With rural living comes a peace and tranquility not offered by big cities plus cleaner air and living life with animals to care for. Yet there are always things you need to know before you set out. You should consider these below before you buy land.
Buying land doesn't have to be tricky if you have the right people helping you every step of the way. You will need a team of professionals you can call like agents, brokers and maybe even a lawyer. Buying a farm is quite different then buying a residential lot. This may seem obvious but have you considered what it means to purchase bulk acreage. Have you surveyed this acreage and made sure that it will meet all your requirements?
First, have all your financial ducks in a row, so to speak before you even begin looking to buy land. You will be ready to buy as soon as you find what you're looking for, if your finacing has already been secured.
Secondly, you should choose an agent who has experience with selling farm land since there are many specifics involved in terms of paperwork and land requirements that everyone will need to be on the same page about. The USDA's website has all the documentation for many different types of land purchases.
Third, you should carefully examine the property, do not really on pictures or hearsay. make sure yourself, that everything you want is there. Do you plan on planting crops? Do you know for sure your soil is good and fertile enough for planting? Does it have proper drainage and irrigation?. Is there a place to put your equipment? Such as, a large barn, shed or other lot?
Lastly, have you done your research on insurance? You will need to know your options here as well as find someone you trust to help you cover all your bases. You need to insure your crops, even if it seems expensive, it will still be the best decision you made in case of a natural disaster which wipes out your harvest such as a tornado or a flood. In case of disaster, you shouldn't rely on FEMA to save you. You should have a good insurance plan to cover your losses.
Spending time on a farm closer to nature and having an intimate knowledge of growing and caring for your food supply can be rewarding as a hobby or financially rewarding if you plan to take your fruits, vegetables and or meats to market. Whichever type of farm you wish to buy whether it be hobby, or livelihood. Check into rates on your loans for farm and carefully choose a real estate agent who knows the ins and outs of purchasing farmland.
The following report is going to focus on 5 keys areas essential to creating wealth and creating time to enjoy that wealth. I'll be honest, I'm not interested in working for a huge pay cheque that requires me to work 60 hours a week with only 3 weeks vacation per year. I would much rather earn a large income and have time and freedom to experience life. I'm sure most people are the same. Inspired by 3 books, I have started to believe this possible. I would recommend everyone who likes this idea to read the following books, Rich Dad Poor Dad by Robert Kiyosaki, The Four Hour Work week by Timothy Ferris and The E Myth Revisited by Michael E Gerber. Taking the knowledge from the aforementioned books here is my interpretation of 5 keys to wealth in terms of time and money.
1 - Passive Income v Earned Income. Most people work for earned income. For example, they work for a full month to get paid, and then they have to work another month to get paid again. This cycle is continued month by month year by year. After paying off bills and debts they have very little to live off or enjoy. They also have little time to do the things they really love as they are restricted by work commitments. There is an alternative, and its passive income. Passive income is when you produce some work on a one off basis, and this piece of work can continue to generate income for you continuously on autopilot. An example of passive income is a musician who records an album and then this album continues to produce income for them without further work apart from advertising and marketing. Another example is an online business where sales of informational products can be automated. A final example would be stocks and shares investments where if done correctly you can make passive income.
2 - Financial Education. Following on from the first section, its important to understand finance to a certain degree. Unfortunately, financial expertise is not taught in education. According to Robert Kiyosaki in Rich Dad Poor Dad, wealthy people produce earned income or passive income which is greater than expenses every month, they then invest the profit in assets which then add to further passive income. Poor people on the other hand work for earned income but have large expenses so they are left with little profit at the end of the month. They then buy liabilities which add to their expenses and before they know it they are in a vicious circle of debt. Assets include businesses, stocks, shares, investments, property etc. Liabilities on the other hand are credit cards, cars, boats, clothes etc. Most people use credit to buy liabilities they can't afford while rich people buy assets, and then only buy liabilities when they can afford it. For a more in depth review I urge you to read the book.
3 - Leverage. Most wealthy people use leverage. Leverage means gaining assistance to reach a goal more efficiently. Leverage can be in terms of gaining assistance of others with expertise in the area you need. Rather than doing everything yourself, try and obtain knowledge from experts who have achieved what you aspire to. Leverage can also be used to a great extent in online business where other specialists can do work you are unsure of. For example sites like elance.com and guru.com you can hire experts to do any online task for reasonable rates. This form of leverage allows you time to think and develop the crucial parts of the business while the technical side is taken care of.
4 - Time Management. This follows on from the aspect of leverage. Using leverage gives you time. Time is a precious commodity in today's society. As Timothy Ferris alludes to in his book the four hour work week, most people get 80% of their results from 20% of their work. So its crucial to identify the 20% of your work that gives you the most results. Thats where planning comes in. Write a list of the things that will give you the biggest results and do them first. For example, do tasks that will develop your business and finances first before more unimportant tasks such as surfing the internet, going to the gym or watching another episode of lost! Spend your free time productively, once you have business and passive income set up you will have plenty of time to enjoy your hobbies and passions.
5 - Create a System. As suggested by Michael E Gerber in The E Myth Revisited, when many people start a business they are creating a job for themselves where they are just working like an employee but with more stress and less free time. This is because they haven't created a system that allows the business to run smoothly. The goal of any business is to have a system in place whereby it can function, run smoothly and make money without your presence. Otherwise its not a business its a job.
The specified five factors are clearly not the only aspects of creating financial freedom and time but they certainly contribute. The three books discussed are amazing at creating the psychology and mindset to create an abundance of wealth.