Payson area residents interested in learning about real estate investing, or want to acquire more knowledge on the subject, now have a resource.
The Payson campus of Gila Community College is now offering a one-day workshop to educate investors of the benefits and pitfalls of investing money into real estate.
The workshop, "Techniques to Comprehend Real Estate Investing," is being offered this November at the college.
"The biggest thing that people don't understand about real estate is that it's a business, just like any other business on the street," workshop instructor Tony Alfano said.
"The goal of the class is to teach people how to build estate and real estate wealth using tax dollars," he said.
For example, Alfano said payment of taxes from profits made from some real estate investments could be deferred under certain IRS regulations.
He said if those profits are re-invested into other like-kind properties, the investor could retain the usual tax on profits from the initial investment.
"There are certain parameters you have to abide by, and that will come out in the education process, but there is a tremendous amount of tax dollars that can accrue and then be re-invested into other profitable real estate ventures," Alfano said.
He said keeping tax dollars in the investor's portfolio and re-investing them into other profitable real estate ventures is one of the easiest ways for people to build real estate wealth.
"We want people to know how real estate investing works, so they can become knowledgeable themselves about how to invest and to work with professionals to understand it all," he said.
Alfano said residential property buyers should also be aware of potential profits that can come from certain investments.
A primary residence cannot normally be used as an investment property, but residential property purchased purely as an investment, perhaps as a rental or a fixer-upper to turn around and sell, could qualify the seller to defer payment of taxes on the profit from the sale of the property. They could then re-use it to invest in like-kind property, allowing accumulation of real estate wealth, Alfano said.
"There are certain things you can do to turn your primary residence into an investment property, and that will come out in the class, also," he said.
First-time homebuyers will also be able to learn how the process of buying a home and negotiating a contract works.
The workshop is a one-day event to be held in the community room at the Payson campus of GCC from 9 a.m. to 4 p.m., Saturday, Nov. 3. The cost of the workshop is $40 for those who pre-register, and $50 at the door and is open to the general public. Those who would like to pre-register can do so at the Payson campus at 201 N. Mud Springs Road.