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Kugene Pettis j
How To Maximize Your
Profits At Resale Time
It\ Kugene Pettis. ItKAl.l'Olt
Smart investors not only make
good profits while owning pro
perty. but they maximize their
profits at resale time. This resale
profit maximization starts at the
time of purchase By purchasing
only property which is well
-located, in sound rendition md^
with good financing, the investor
then is in a position to gain the
maximum potential from the
property.
Unfortunately, many home
buyers and investors in other
porperties buy the wrong way.
Profit maximization begins the
day the properly is bought.
Assuming the property is in a
reasonable location and in sound
physical condition, the other key to
getting the most from the property
is its financing A key question to
ask is "How^ can I best finance this
property- to bu\ it now and to
eventually reseli it in the future
with a maximum profit?"
Think of all the retirees who sold
their humes up north, received a
bundle of cash from the sale, and
bought a retirement home in the
South or West. Most of those people
paid all cash. Bui when they want
to resell today, perhaps because of
illness or changed family circum
stances, they are ‘.Hiding that it is
hard to resell for all cash. The
reason is the (xi’ential buyers,
today’s new retirees, are having
trouble selling their old homes for
cash. But if those home&.had been
financed- with assumable mort
gages, they would be easy to resell
today (although the seller would
probably have to help out by
carrying a second mortgage >
In other words, when you buy a
property, finance it so it can be
sold easily. This means mortgage
it to the hilt at ' the time of
purchase. The bigger the mort
gage, the easier it will be to resell
that property in the future.
Even if you can afford to pay all
cash, or make a big cash down
payment, DON'Tl Like every good
rule, however, this one has an
exception. The only tim to pay all
cash or make a big cash down
payment is if that cash will gain
you a substantial discount off fair
market value. A “substantial dis
count” means at least 20 percent
below fair market value.
Just as financing is the key when
buying property, it is the key to
success when selling property too
But there is more to maximizing
resale profits than just offering
good financing When getting
ready to sell a property, there are
two additional considerations: $)
First in a series
the physical aspects and 2) the
income tax aspects. Both are im
portant. Smart investors consider
both when they decide to dispose of
a property they no longer want to
-own. . ___
Selling your home, whether it is
a single-family house, a condo
minium or cooperative apartment
or townhouse. or perhaps a house
boat or mobile home, can be a very
rewarding and profitable experi
ence. Or, it can be financial
disaster.
To earn the greatest net profit
from your property sale, after
taxes, requires taking a series of
steps, one at a time. The sales
process is really quite simple But
do not risk selling your property
until you fully understand every
step of the sales procedure
Selling your property, especially
your home, is one of the greatest
profit opportunities you will ever
have - Don't Muss It Up!—One—
mistake can easily cost thousands
of dollars in low profit or taxes
paid unnecessarily IT IS FAR
CHEAPER TO PAY FEES FOR
EXPERT ADVICE THAN TO
MAKE A MISTAKE THAT COSTS
FAR MORE.
Here are the easy steps to
maximizing your profit and mini
mizing the tax when selling your
residence
Get Home In Top.
Physical Condition
To get top dollar for any home, it
must be CLEAN! That means
really clean If necessary, paint it
inside and out Paint is the cheap
est and most profitable improve
ment you can make Be especially
certain the entrance has been
recently painted and all outside
trim is in top condition.
Clean the yard, basement, and
garage thoroughly. A neat, clean
home brings full market value, but
similar dirty homes repel buyers
from making any purchase offer
You may be accustomed to the
dirt, dog smells, cooking odors,
and other personality traits of your
home, but potential buyers are not
It is the rare buyer who can
overlook sloppy housekeeping,
poor maintenance and dirt. Those
buyers who wijl buy such a house
expect to buy at a rock bottom
price IT you are Buying and can
find a messy property which the
seller will not get into top condition
before sale, that is your opportun
ity to buy for a bargain price
because you will have little or no
competition from other buyers
On Channel 3
“Cagney & Lacey” Premieres Thursday
“Cagney & Lacey,” a taut new
dramatic series starring Tyne
Daly and Meg Foster as two New
York police detectives struggling
with sexism in the precinct
house while risking their lives in
undercover pursuits, premieres
Thursday, March 25 at 9 p.m. on
WBTV, Channel 3.
Tyne Daly reprises her starring
role as Mary Beth Lacey, wife,
mother and breadwinner, who jug
gles a tough career along with her
family responsibilities, the charac
ter she established in the motion
picture-for-television “Cagney &
Lacey," broadcast this season on
WBTV, Channel 3.
Meg Foster stars in the new
series as Chris Cagney, a single,
attractive and ambitious police
woman w-ho takes "dead aim” on
criminals and department chau
vinists alike Despite their differ
_ences, thejyomen are fast friends
and good cops.
Also starring in roles they cre
ated in the film are A1 Waxman as
Lt. Samuels, head of the detec
tives, and Carl Lumbly as De
tective Petrie. John Karlen also
stars as Harvey Lacy, Mary Beth's
husband. Other key roles are
played by Martin Kove as De
(aitral America hi Revolt To Air Saturday
First Nicaragua, now El Salva
dor, perhaps next Guatemala.
Central America is in turmoil, and
the stakes for the United States are
high. Are the dominoes falling at
our doorstep?
CBS News will present a major
-speeial broadcast. “Central Ame
rica in Revolt," examining the
causes of this turbulence so close
to home, and the debate over
American policy, on Saturday.
March 20 at 9:30 p.m. on WBTV.
Channel 3.
Reported by Correspondents
Dan Rather, Bill Moyers. Mike
Wallace and Ed Rabel. the broad
cast is a unique collaborative
effort of several units of CBS
News, including “CBS Reports."
"60 Minutes," Special Events and
the “CBS Evening News."
“Central American is command
ing increased attention," CBS
News Deputy President Van Gor
don Sauter said in announcing the
project. "Current events there
raise questions so disturbing, with
ramifications so profound, that
they deserve this commitment oi
the full resources of CBS News."
“Central American m-Revolt"
will focus on three nations, with
Mike Wallace reporting on Nicara
gua, Bill Moyers on El Salvador
and Ed Rabel on Guatemala
Moyers will also look at the roles of
both Cuba and Mexico in the
region. The broadcast will include'
interviews with top Administrative
officials on American intentions in
Central America, and Rather and
Moyers will look into the debate
over American policy there.
In addition, as part of this effort
to clarify the Central American
situtation "Face the Nation" on
Sunday. March 21 will be devoted
to the crisis in the Caribbean.
tective Isbecki, Sidney Clute as
Detective La Guardia and Harvey
Atkin as the desk sergeant.
In the premiere episode. Cagney
and Lacey-working undercover as
prostitutes-nab a dope pusher
However, in spite of their "big
arrest." Lt. Samuels is reluctant to
take the team off "John detail."
After insistent prodding by the
women, he assigns them to a
particularly savage murder case
whose three victims are all
prostitutes
Back in their street garb.
Cagney and Lacey are now "bait”
for the maniacal killer
Miss Daly estimates that she has
appeared in some 60 television
shows, including her co-starring - -
role with Jack Lemmon and Ray
Bolger in the Emmy Award-win
ning "The Entertainer.”
Miss Foster has appeared in
numerous television roles includ- <
ing her portrayal of Nora in the
motion picture-for television "Sun- i
shine."
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