Complex sales are the biggest of all sales. You have big commission dollars at stake. Sometimes, a salesperson's entire year can be made or broken on one major sale. The problem is your competition wants that commission as much as you do.

If you want to win the big sale you've got to out-SELL your competition. The 10 keys to winning a complex sale tell you how.

In a complex sale, your goal is to identify the players who will be involved in a buying decision and help them see the unique value of your solution. Any decision-maker who you do not meet is a potential threat to winning the sale. This leads to the 10 keys to winning a complex sale. The more of these you do, the better your chance of winning the sale.

1. Before you deliver your sales presentation, meet with at least three people affected by the sale.

You need multiple sources of information. Winning a complex sale hinges on gathering information about how the decision will be made, who will make it and why. If you meet with only one person, how will you know if the information that person gives you is correct? Meeting with at least three people also helps you create greater momentum in the buying process - three people who want to buy from you are better than one. And it helps you better understand the customer's needs. By the time you've met with three decision-makers, you'll know if there's someone else you need to meet with. Really good sales management training programs give incredible detail on the 10 keys to winning high-dollar, lucrative sales.

2. If the gatekeeper is not an influential person in the decision, get past this person as soon as
possible.

How? Ask the gatekeeper questions that he or she can't answer. If the questions you ask are important to understanding the need, you'll hopefully get the gatekeeper's OK to find out the answers.

Offer to gather information from other people and report back to the gatekeeper with your findings.

Sell your gatekeeper on it. There may be benefits to the gatekeeper if higher level decision-makers get involved. One possible benefit is that the money to buy may come from someone else's budget besides the gatekeeper's.

If you do it early in a sales process, you may be able go over a gatekeeper's head without asking for permission. This is more upsetting to the gatekeeper the closer you get to the decision. If a decision is about to be made, and you think you're going to lose, going over the gatekeeper's head sends the message that you are questioning his or her decision-making process. This is what is so upsetting to them. But if you go over the gatekeeper's head early in a sales process, the gatekeeper has less invested in the decision, so he or she will likely be less upset by it.

3. Identify all the decision-makers and their positions on the team.

A few general questions to ask would be: How will your organization go about making this decision? Who else will you need to talk to?

To identify specific players on the buying team, ask these questions: Who's budget is at stake here? (gets you the Virtual Authority). Who will be evaluating the technical aspects of this decision? (gets you the Integrator).

You'll have no problem finding the User, and the gatekeeper usually finds you! And, you must find the Power Broker, so ask, "Who will be the key decision-maker on this?"

4. Finding the Power Broker before your competition does is crucial.

If the Power Broker wants to buy from you, your success is almost assured. If the Power Broker prefers your competition, forget it.

The Power Broker derives his/her power from credibility with the Virtual Authority, perhaps by being the recognized expert. Or, the Power Broker may be the Virtual Authority's "right-hand person."

Power Brokers tend to be strong-willed individuals who are goal-oriented and persuasive communicators - just like salespeople. An effective Power Broker is an effective internal salesperson. So, which member of the buying team is the most effective salesperson? Chances are, that's your Power Broker.

5. Identify where each decision-maker is in the buying process.

Your sales approach with each player depends on where that person is with regards to the decision. Be a "doctor" with someone who doesn't recognize a need. A prospect in the comparison stage needs to know why you are their best choice, how you are different from the other options, etc. So, you want to be a Coach.

Think of the roles as "selling hats." Which hat you wear depends on where each prospect is in the buying process. When a player moves in the buying process (hopefully forward, but possibly backward) change your selling hat to meet their new needs. The speed with which each buyer's wheel turns determines how fast you should change your selling role.

6. After each meeting with a prospect, send that person a letter stating your understanding of their needs.

You cannot rely on verbal communication alone, because selling the person sitting in front of you is not enough. You must also provide your prospect with the tools needed to sell other decision-makers on your behalf. And since most sales literature focuses on your product's features and benefits, not on your customers' needs, they're ineffective as a leave-behind.

Your letter of understanding will reinforce the importance of the meeting for your prospect, solidify why the need is important, and provide information your prospect will need to sell other decision- makers.

7. Develop as many sponsors for your cause as possible.

Think back to the biggest sale you've ever made. Chances are, there was at least one person in your client's organization who wanted you to win the sale.

A sponsor is any decision maker who wants you to succeed. Think about a complex sale you're working on now. Is there any decision-maker in there to wants you to succeed? If not, what can you do to develop one (or two)?

8. Find your enemies and neutralize them.

While you are cultivating sponsors for your cause, your competitors will be busy developing sponsors for their counterattack. The biggest threat to your winning a complex sale is the existence of an individual who wants your competition to win.

The most successful strategy is to neutralize that person by being proactive. Identify who is against you, assess that person's power influence on the decision, and take action to defuse the threat. Don't sit back and wait!

Sometimes, your enemies are difficult to recognize. They may not want you to know they exist. These people may say wonderful things about you to your face, but as soon as you leave, they begin pulling strings to make you lose. Once again, having multiple sources of information is the key to identifying these stealthy adversaries. Ask your contacts, "Is there anyone who may be opposed to this?"

To neutralize your enemy, try overwhelming them with superior numbers. If you can develop several sponsors among the members of the complex buying team, you can create enough momentum for your solution to overpower the enemy's opposition.

How much credibility does your enemy have with other members of the Complex Buying Team? If your answer is "a lot," try to meet with your enemy one-on-one. Ask questions such as "What concerns might you have about our solution?" Apply the sales role of a therapist and try to draw out their concerns.

Don't underestimate the importance of personal agendas. The best supplier with the best offering does not always win. Suppose you made a sale to Department A that was successfully implemented. Now you're trying to make a similar sale to Department B. If department A's manager is at odds with the manager of Department B, you may lose the sale to B because you were successful with A.

9. Develop a complex sales strategy by answering these three questions:

What factors are working for you in this sale? What factors are working against you? What can you do better position yourself to win?

10. Don't get overconfident!

The greatest barrier to winning the sale may be you! Overconfidence about how a sale is progressing may lull you into a false sense of security. Always question your basic premises. Francis Bacon said, "If a man will begin with certainties, he shall end in doubts; but if he will be content to begin with doubts, he shall end in certainties." Don't assume anything!

Winning a complex sale is difficult. Your competition wants them as much as you do. Winning is no accident. The salesperson who wins will likely be the one who works just a little bit harder than the others, who does a few things that other salespeople don't do.

Work harder and apply these ideas. Attend a 2-day sales seminar and you WILL close more large-dollar, complex sales. You can bet on it!

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Youth soccer drills are games which motivate players to do their best at soccer practice and are the hardest drills to develop on your own. Young players are need to the team regeneration. It’s for replace the old players that will retire soon. The team need to produce a good young player and good agility certainly. So the team stay solid although with young talented. Youth players get bored very easily and lose interest in drills that are not fun. The key to having a happy and excited youth team is to keep drills entertaining. This will ensure that your players come back to training week after week. Key drills to implement involve learning the basics of soccer.

coaching youth player that are fun and have hundreds of touches on the ball produce better soccer players. Trapping drills are good idea. Trapping drills is important to make player more familiar with the ball. It is for keep the possession of the ball while in a match. If your players worst in trapping the ball, your team will loss possession easily, because when your player gets pass from teammate, its player not trapping the ball correctly, then the ball is far from reach, and your team loss possession.

Juggling drills are another way to make your players familiar with soccer ball. Try it with count when the ball touch the part of body but hands, and don’t fall to the ground. For young soccer player or beginner do it with 10 – 20 touches first. Then if it’s mastered increase to 21 – 40 or make a self record of juggling the ball. For sure if the players mastered in juggling, they will easily learning trapping drills.

Dribbling drills also the most important in soccer. The player who mastered in juggling is not sure will mastered in dribbling. Because dribbling need good stamina, body balance or the strength of body, and quick foot. In juggling, the player is not run. But in dribbling need a quick move. Do you know the difference between speed move and quick move? It is different, quick move is move with intelligent of mind or in other words it is about making decision, how fast to make a decision. Speed move is how fast to run. Yeah just run. So dribble need a fast making decision where will you go with the ball. In dribbling there is often a sudden move or it is called feint. It is need a good body balance to suddenly change the direction of the move. And stamina is need in order to not tired easily.

Make your coaching youth player more fun and to be good quality. Make a short summary after training session as a measurement for the next session. It’s need a good plan to produce more talented players to become a powerful team with your young guns. Happy coaching.

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Plenty of people in the world are willing to make money. And there are some who have already made plenty. However, if we take a closer look, we can note that there are also plenty of people who have not been successful in making money. And the main reason is because they don’t have the proper approach towards making money.

Let’s look at those who do have the proper approach: millionaires. People who are already millionaires have altogether a different attitude and perspective in their thinking and work. And hence this is the basic thing lacking in those other people who are not millionaires, the right approach; i.e. thinking like a millionaire.

Be a Millionaire

Nowadays though money making has become quite easy for some because of online money making, many people are still lacking the right attitude i.e. thinking like a millionaire. But not so at Millionaire of the Month.

Millionaire of the Month is a group that provides with all the information and expertise that you require to become a millionaire. They will teach you how to make serious money online. Some of the features follow:

1.Here the millionaire gurus themselves teach you how to make money online and what are the tips and tricks that were used by them to reach this position.

2.You will be given proper training of how to make online money after you have signed up with them. You will be given complete information through you email.

3.You will also get monthly lessons and training sessions showing you how to think like a millionaire thereby changing your complete attitude and approach. Your membership materials will show you how to easily and quickly fix the way you think.

4.Your club materials will also give you insights into the real secrets and breakthroughs that true marketing millionaires know and you will also come to know inspiring stories of how these average people made their way from the basement of life to the penthouse on the top of the world.

By being with this group you will actually understand what really controls the success that you get or you don’t get. The group assures and makes sure that you use this information to your advantage.

Through real world examples of business models and tricks which only come from proven successes, you will surely make a fortune for yourself. In addition to that you get all these information, tips, tricks and everything for free. You just need to be a member of that group and you will realize what no one has realized, you will get what nobody has got and you will have access to the most precious knowledge which money can’t buy.

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It has been said that people is the key driver to the success of the business because they are the most important asset. This is the reason why the management tries to retain as much key people as possible to ensure the continual success of the business. However, before your personnel can truly become beneficial to the company, they need to be trained. There are many reasons to train your personnel but the foremost reason is that you train them because you want them to contribute a lot to the company.

The first reason why trainings are conducted is to integrate the personnel into the organization. They need to know the purpose of the company and their role in it so that they can effectively perform and deliver the necessary results. The personnel needs to be integrated properly into the function of the company fully trained so that he can perform at his best.

Another reason why you should train your personnel at the start of their work and then continually provide them with training is to beat the competition. You should not rely on the innate skills of your employees or even their previous knowledge of the business because you also need to deal with the competition that constantly looks for ways to steal a share of your market. In line with this, you need to equip your people with the skills and knowledge they need to help your organization remain at the top of its game.

Training can also improve the productivity of your employees; in fact, there are many studies that show productivity increases when people know more efficient ways to conduct their daily activities. The training will also introduce new methods to your employees so they will know about different methods wherein each task can be conducted.

Still another reason to provide training to your employees is the change in the business environment. This is because the rapid technological advancements today require that businesses adapt to these changes by learning new skills and by learning how to operate new programs. The training will keep your employees updated so they will be able to respond to the needs of the market. In addition, training will enhance the innate skills of your employees and this will enable them to reach their potential. And because of this, you can expect to see excellence in the workplace.

You should never look at training as an unnecessary expense because it will pay off dividends to your business once your people become more educated and skilled. As you can see, training of your employees is definitely one of the things you need to look into if you want to ensure the continual success of your business.

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Is your industry becoming more competitive? Are your prospects taking a closer look at what your competitors have to offer? Selling in today's marketplace reminds me of that old line from ABC's Wide World of Sports: "The thrill of victory and the agony of defeat."

For the salesperson and the sales manager in the arena, it's winner take all. There are no rewards for second place.

This trend of intensifying competition makes selling, and sales manager training more interesting — but also much more difficult than it once was. If you want to stop losing sales to competition and make more money — and we all do — then you've got to sharpen your competitive selling skills.

Here are four of the most common reasons why competitive sales opportunities are lost — and specifically what you can do to win more often. These are the mistakes to avoid if you want to give your competitors fits.

1) Your competitor understands the prospect's needs better than you do.

Sun Tzu wrote his classic book, The Art of War, 2,500 years ago. In it he said, "If you know the enemy and you know yourself, you need not fear the result of a hundred battles. If you know yourself, but not the enemy, for every victory gained, you'll also suffer a defeat. If you know neither the enemy nor yourself, you will lose every battle."

Between you and me, Sun Tzu had it easy! In 500 B.C., all he had to do was learn about himself and his enemy. Today, it's not enough to know about yourself and the competition. You also have to know about the customers' needs. When you know the specific ways in which you're different from your competition - AND you know your customers' needs - you'll know which differences are going to be the most important to your customer. And that knowledge is what will put your name on the scoreboard.

One simple strategy for understanding your customers' needs better than your competition is to resist the natural temptation to talk about yourself, and instead, keep the conversation focused on your customer's needs. If your customer asks you about your product or service - as they often do - answer their question, then redirect the conversation back to your customer's needs. A good rule of thumb is to identify at least eight customer buying criteria before you start talking about your product or service.

2) Can't reach the key decision-maker.

All decision-makers are not created equal. In every buying decision there exists a "Power Broker," one person who wields more power and influence than anyone else. When the Power Broker talks, others listen. Think of an important prospect you are calling on now. If he or she is not the key decision-maker, who is? The first salesperson to identify and win over the Power Broker almost always wins the sale.

To identify the Power Broker, ask your contact questions such as, "How will your organization make the decision on this? Who else will you need to talk to? Whose budget is at stake here? Who's going to be the key decision-maker on this? Power Brokers derive their power because they have credibility with superiors, perhaps as a recognized expert. They tend to be strong-willed individuals who are goal-oriented and possess good communication skills. The Power Broker is an effective internal salesperson who you want championing your cause.
3) The salesperson overlooks seemingly minor differences between his/her solution and the competition.

A friend of mine sells voice recording systems for emergency 911 centers. One "minor" difference between his system and those of competitors is that his system has been approved by Underwriters Laboratories. For years, my friend and his fellow salespeople made nothing of this differentiator.

Then one diligent salesperson was carefully studying her prospect's cost components, and discovered that installation of a product that was U. L. approved would qualify a 911 center for a significant reduction in insurance premiums. This translated into a huge cost savings for the customer - and a nice commission for the salesperson.

The point is - don't overlook anything! Differences that may seem minor to you could be of significant importance to your customer.
4) No game plan to beat the competition.

The one common thread weaving through all of these reasons for losing sales this: We don't slow down and think. For years, salespeople have been told that the key to selling is to think fast on your feet and to make lots of calls. This bias for quick thinking and a high activity level is exactly the opposite of what it takes to win competitive sales. The best sales people and sales managers have all attended a 2-day sales seminar to gain these valuable skills.

I'm not suggesting you make fewer sales calls. What I am saying is that you need to put more thought into each call you make. Think like a coach thinks, and make a game plan to win.

What's your understanding of your prospect's buying criteria? Which of those criteria represent a competitive edge for you? Which represent a competitive disadvantage? Who is positioned most favorably at this time - you or your competition? How can you influence the customer's buying criteria - or modify your offering, in such as way as to create a better match between what you have and what your customer needs? Your effectiveness in competitive selling situations will be largely determined by the questions you ask yourself before each sales call.

In sports, when two teams are evenly matched, the winner will be the team that executes its plays the best - the team that makes the fewest mistakes. To win more competitive sales opportunities, you must do the same.

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An hour saved from wasted time can greatly benefit you. One of the qualities of wanting to be a leader or achiever is to commit oneself to ongoing personal and professional development. When you begin to look upon yourself as a leader , you have become a self-made individual and a work in progress. You will always be reaching out to achieve even higher goals of knowledge and understanding.

Have you ever thought that if you give one hour a day to studying , that this would put you at the top of your field. Within several years , you could become an authority that others look up too. After approximately five years , you could be a national leader. When you devote the necessary time needed, you can become one of the best people in the world at what you do.

It is important to become a better individual with time management. If you do a little self-improvement planning , you will slowly become better organized and learn how to manage your skills at managing your time.

It is impossible to rely on your memory , it has been known to be slow at times and not comprehend all the information it should. Pen and paper is your best friend. Don't spark up a hurricane in your mind trying to remember, simply apply your thoughts to paper for later viewing.

There is nothing wrong with carrying writing material to meetings. This is just a better way to improve yourself. What if others do laugh? Are they perfect? Have you ever known them to forget a minor detail? Sure you have? This is a common problem that everyone experiences in their daily life.

It may help you to write down the time and date when someone tells you to do something , such as your boss. You will begin to see a significant improvement, when you write down necessary information. No ! you don't have a poor memory. You are just becoming better organized. Watch out! It won't be long before others will be complimenting you on a job well done.

Don't never be afraid to move forward. There are many people afraid of moving forward in their lives, because they have found themselves stuck in a comfort zone. These are the people that will develop problems and never be able to find a solution. They simply find the smallest problem to be a severe tragedy. Don't lower your guard to the likes of people like this.

Keep moving forward in your life to achieving your goals. You have learned to manage your time and now you are benefitting from it. Leave no stone unturned. Take the necessary steps it takes to making yourself a better person.

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Consistently showing up late to work sends an unprofessional message to bosses, colleagues, and clients. If you are late too often you could be fired, or develop a bad reputation that forces people to look for someone else when the services you provide are needed. While everyone shows up late occasionally, being late every day or for every meeting will not be tolerated by most people. Because people value their time, they will see your lateness as disrespect. If you are having difficulties showing up to work on time, the following tips can help you stop this behavior and rebuild your reputation.

Buying an alarm clock is the most important defense you have if you run late each morning. Setting your alarm to wake you up earlier than you need to can help you get up and start your day. Wearing a watch is another tool that you can use to ensure you are never late. If you have a cell phone that allows you to create meeting alerts, use it to alert you each day of upcoming meetings and their times. This will allow you to plan your day so you don’t miss out on any important events.

Always arrive a few minutes early for meetings. If you know there will be traffic, then you will need to allow for it. Those who live in urban areas usually have an idea of where congested areas will be. Make time for sitting in traffic and finding a parking space. This will help you avoid being late when meeting clients or when you need to be in an important company meeting. Once you adjust your schedule and leave extra time to arrive at your destination, you should never miss another meeting.

Being late can affect the way you perceive yourself as well. After being late a few times, you may experience added stress, self-doubt, and become anxious that you could lost a valuable client or your job. This could also affect your work performance. Compensating for tardiness by trying to do the best job possible may not always make up for the fact that you are late to meetings or have difficulties adhering to project timelines. Project managers may reassign you to other tasks, or your services may not be used in the future if you can provide clients with what they need within a certain time table.

Using the tips mentioned above and taking the time to learn time management skills, you will be able to stop being late for meetings and other events. This will lower your stress level and allow you to enjoy what you do. Being late once in a while is fine, but making a habit of it is not.

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What every woman wants, prefers, desires most in her partner

Have you ever thought why women choose wrong guys to be with? Why does a descent woman chooses to be with womanizer over nice, a "good guy" type?

Ask as many women as you can and you will find so many qualities these women want in a partner. They will tell you they want a good man, nice looking man, rich, adventures. After thinking about it you find out what attracts women the most. This is magnetic attraction. Women want someone who makes them feel good, make them laugh.

Why good guys don't attract women? Women get attracted to guys only if a guy isn't predictable, a guy who isn't affraid of a challenge. And nice guys usually are too boring to most women. If a woman has too much power over what guy is going to do, she will loose interest him soon.

Women love to test men. Women want a man who is nice but he has his own opinion, his own decisions and can say NO to a woman if he has to.

Women love combination of a "nice guy" and "a bad guy" characteristics.

You can still be a nice man and attract women, but never be "too nice". Always let your woman know your boundaries and the line that she shouldn't cross. Tell her "NO" once in a while and she should learn your boundaries. This way you can keep attraction going between both of you.

Women love "bad guy" image because they will never get bored with him. There will always be some excitement involved and women love it. If a man is poor and demanding, a woman will try to save him and help him. Some women live with a bad man because they believe they can help him or that he couldn't live without her. You could be amazed but some women love being needed and taking care of a "bad guy".

Most men get really confused dealing with a woman. Men get upset and angry realizing that to attract a woman you don't have to be a very nice person. All women say they want a nice guy but they really want a nice man who can make them feel as a "bad man" does.

Women could have a good time with a good man. She can flirt and love your attention but she wouldn't move any further past that. She will test you and see how you react and what you do, but she would remain just friends and move on to the more exciting guy. If she gets bored it's the killer of attraction. If she gets bored, she can't help how she feels and she will be looking for a man who can make her feel better.

Some women who are in a very committed relationships, if they get bored, the could be looking for male friends. Women love man's attention and if she already has a partner, all she would want is just attention. If a woman is single, then she will always will be looking for a guy who makes her feel wonderful all the time and who has most of the values that she desires.

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I recently reread Jim Collins' book, Good to Great: Why Some Companies Make the Leap and Others Don't and found that many of his ideas can help you improve performance of your sales team.

Collins' book answers the question: How can good companies, mediocre companies, even bad companies achieve enduring greatness? Using tough standards, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. The research team contrasted the good-to-great companies with a carefully selected set of "comparison" companies that failed to make the leap from good to great.

Over five years and 15,000 hours of research, Collins and his team deduced the key determinants of greatness – why some companies make the leap and others don't. Here are a few of their findings and what, I think, Collins' findings mean to you and the development of your team.

Good is the enemy of great
Some sales teams will never be great because their sales managers settle for being good. It's easier than being great. They don't take the time to learn about sales manager training. Just doing this would help sales managers and sales people SO MUCH.

First Who… then What
Collins expected to find that Good to Great leaders would begin by setting a new vision and strategy. What their research discovered, however, was that the best leaders first got the right people on the team, de-hired the wrong people, and got everyone in their optimal position… and then decided what the vision and strategy was. The saying, "People are your most important asset" is incorrect. It should be changed to, "The right people are your most important asset." Then, put your best people on your biggest opportunities, not your biggest problems.

Application questions: Is there anybody on your team who shouldn't be? Do you have any team members in a less-than-optimal position, a person whose skills are not being fully utilized? What, and when will you rectify these situations?

Confront the brutal facts, but never lose faith
One of the most important findings from Collins' research is that breakthrough results come about by a series of good decisions, diligently executed and accumulated one on top of the other. You don't need to be perfect, but to be great you do need to make many more good decisions than bad ones. And good decision-making requires accurate information, which can be difficult to obtain. Collins writes:
Indeed, for those of you with a strong, charismatic personality, it is worthwhile to consider the idea that charisma can be as much a liability as an asset. Your strength of personality can sow the seeds of problems, when people filter the brutal facts from you.

Winston Churchill understood the liabilities of his strong personality. He was concerned that he wouldn't get accurate information from his subordinates, so, during the darkest days of World War II, he founded the "Statistical Office", a separate department outside the command structure that fed him the most accurate, indeed brutal, facts of the war. Churchill also possessed the second requirement of greatness — an unwavering faith that Britain would survive and thrive, even when things looked so bleak.

Application questions: What's one great dream you would dare to dream (for your team) if you knew you could not fail?

Your "Stop doing" list is more important than your "To do" list.
Many sales managers lead busy lives, accomplishing task after task after task. Interestingly, the leaders studied in "Good to Great" companies made as much use of "stop doing" lists as "to do" lists. They continually asked themselves:
What can we do better than anyone else? What type of opportunities are we passionate about? And, what segment of customers allows us to make the most profit?

Good to Great leaders instilled the culture of discipline - by teaching their team where to focus, and what to ignore.

Application questions: What opportunities, or customer segments, can your team make a compelling case of being the best choice? Which of these opportunities are most profitable, and why? Finally, what can you become passionate about?

Is your team brilliant on the basics? If not, you may be losing sales you should be winning. You can help salespeople re-focus on the fundamentals of effective salesmanship, and sales managers to master the basics of management / leadership by sending them to a sales seminar.

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One of the main reasons people invest in real estate is for the beneficial tax breaks it provides. The tax breaks are most substantial for middle-income investors who are their own property managers. The value of tax relief depends on your annual income and what type of job you have. Even though the breaks are most significant for the middle class, there are also tax shelters for income produced by passive investors and high-income earners.

An example of the tax benefit for real estate investors is that the maintenance costs and marketing costs associated with a rental property can deducted from the income on a property, no matter what tax bracket the owner is in. Other expenses that can be deducted are interest on the mortgage, property insurance, utilities, general maintenance and repairs, management fees, marketing costs for renting the property, and depreciation.

Depreciation is the fact that tangible assets diminish in their value over time. For example, if you buy an oven for a rental house, it's assumed that it will wear out over the upcoming years. The value of the oven can be claimed over a five year period as a deductible expense on your taxes.

Depreciation is used by some people to shelter taxable income so that it is not taxed. Here's what they do: The rental property owner depreciates the value of the rental house's structure. Land does not depreciate because it doesn't wear out. So if the owner claims that the value of his rental is going to go from its purchase price down to $0 over 27.5 years, the annual amount is sheltered as depreciation, which can be deducted from property income before paying taxes. Consider the following example of depreciation:

You invest in a four-family house for $500,000, finance $400,000 and put down a $100,000. The $400,000 mortgage is at a 7% interest rate, which costs about $2,662 in interest per month. Add in the additional costs which are $500 per month and include management fees, repairs, insurance, and advertising costs. Monthly rent income is $1,000 per unit, for a total of $4,000 for the property. The positive cash flow (income minus expenses) in this situation is $838 per month. This totals $10,056 annually. Usually this would be taxable income, and at a 30% tax rate, that would cost you about $3,000. The money saving tip here is that you can depreciate the building over time, thus reducing the amount of taxable income that you will need to pay taxes on. First subtract out the appraised cost of the land - in this example it's $75,000. This means the cost of the structure is $425,000. Divide that out over 27.5 years, and you'll have an annual depreciation expense of $15,454. This eliminates your tax obligation on the $10,056 in rental income. The next logical question would be, "What happens to the remaining depreciation expenses totaling $5,398?" This is where it is important to consider your occupation and income level. Most people who are not real estate professionals cannot claim a passive loss on rental real estate investments. Passive losses by real estate professionals can sometimes be used to offset money earned on other rental properties. Most often they cannot be considered to offset your wages from other income or investments. The following are two exceptions to this rule:

• Real estate professionals that spend more than 750 hours involved in real estate can write off passive losses.

• If you are not a real estate professional, and your annual income (modified, adjusted gross) is less than $100,000, you can use up to $25,000 as a write-off on any other income (non-rental) per year. To do this you must be actively involved in the rental business, for example you decide the rents, accept tenant applications, etc.

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