|
|
|
How Much Is Your Real Estate Worth?
Today, the asking price of most properties is quite large and usually beyond the normal means of the consumer. This is why a lot of people apply for a loan in order to acquire property.
Pre-Qualification Stage
To pre-qualify yourself for...
Owning Rental Property
Many people today are intrigued with the idea of owning investment real estate. It sound like an awfully simple way to make money: Owning property, renting it out to tenants, and collecting rent payments. The truth is, it can be an extremely...
Real Estate Clubs Hot Among Investors
Six or seven years ago, the stock market was booming, Internet companies that no one had ever heard of were valued at billions of dollars, and anyone and everyone was investing their money in tech stocks. Then, in 2000, the stock market crashed,...
San Diego Real Estate – Reading Between The Lines
The Change in one of the nation's hottest real estate markets may be a sign of a Nation wide trend!
Just this summer it was almost impossible to find a new San Diego real estate development that
cooperated with real estate brokers. If you...
Title Insurance – Examples Of Problems And Advice
What is title insurance and why should any buyer get it when purchasing a home (single family, townhouse, condo, apartment, or whatever format your home purchase takes)? Doesn’t the attorney or settlement company handling the closing see to it that...
|
|
| |
|
|
|
|
|
|
7 Simple Steps To Real Estate Investing
Whether you are BRAND NEW to real estate investing or an expert in the game, it’s critical that you understand these 7 Simple Steps to real estate investing.
First things first…
• Real Estate is NOT a get rich quick scheme. However, if you learn the foundations and put them into practice, you will make more than enough money to realize any and all of your dreams and goals.
• The real estate bubble is not going to burst! The real estate market will, however, shift and the real estate market will change – just as it always has! What’s “hot” now may turn ice cold in the next 3 years (or perhaps even 3 months). But, there are ways to “bubble proof” your real estate investments. It’s actually quite simple.
Did you know that in the United States, in 1975, the median home price was $33,300? In 2005, the median home price was $195,000. Historically, the average home doubled every 7 years. If you do the math, it should be well over $200,000.
OK… Now, having said that… The real estate market WILL change and what is “working” today in real estate may not in the future… The rental market was strong a decade ago, but has been soft in recent years. We are getting ready for a turn once again.
Real Estate IS a cycle… and cycles have some degree of predictability. With predictability, you can grow your real estate business into a cash-producing, profit-pulling machine that runs itself WITH the changing real estate market trends. It is still possible to make money in real estate. In fact, now is just as good a time as any to get started in real estate investing.
But, you’ve got to make wise investments. Sure, you may make some SERIOUS cash in pre-construction, but what happens if (no, not if – when) the market shifts and there are suddenly 35 identical properties on the market for sale in the same building? How long can you afford to carry a negative cash flow on the property?
Or how about taking over property ‘subject to’? Sure, it’s a great strategy and lenders may be inclined to turn the other way and not exercise the “due on sale” clause as long as the interest rates are at rock bottom prices (You know, those sellers that you’re usually taking property subject to from usually don’t have the lowest interest rates, right?) If the interest rates spike to 10-11%, don’t you think lenders might be MUCH MORE inclined to exercise their option to make you pay off the 6.5% note?
What this means is simply that you must be experienced in the basics – the tried and true techniques, strategies and systems that have worked in the past, are STILL working and will work in the future. You’ve got to have all the tools in your bag so that you can go with the flow and not be affected when real estate markets begin to shift (which they are
already in the process of doing, in case you’ve missed that memo! ;-)
Step #1 - Set your plan: Figure out what your long term real estate goals are (aka retirement and wealth building) and figure out what your short term needs are with regard to making money in real estate. Then, set up the proper entities and put the plan in place.
Step #2 - Determine what your target market will be: You cannot be all things to all real estate markets. If foreclosures appeal to you, start investing in the foreclosure market. If you want to be a landlord, look to out of state owners to focus your real estate marketing efforts.
Step #3 - Be consistent and persistent: Real Estate is not a get rich quick scheme. Real Estate is get wealthy over time and put some quick cash in your pocket today. You’ve got to follow your plan and stick with it to see real results in real estate. You’ve also got to continue to increase your education and your experience.
Step 4 - Don’t fall into the “Analysis Paralysis”: Learn to analyze properties quickly. Don’t get caught up overthinking. It’s quite simple actually: What’s the property worth? What does the property need for repairs? And how much can you get the property for? It all comes down to numbers!
Step 5 - Become a master of finance!: Real estate is the business of marketing and finance. You must learn about mortgages and interest rates and loan programs that are out there. You must know how to use finance to negotiate your deals and to sell your properties.
Step #6 - Become a skilled problem solver: The reason you will get real estate deals that others don’t, is because you are able to solve people’s problems. Anything goes on the real estate playing field. You’ve got to be ready!
Step #7 - You must continue your education: It is important that you are always investing in your education and learning new tactics, strategies and tips that will help you make more in real estate.
If you enjoyed this article, make sure to look up the other articles discussing The 7 Simple Steps To Making Money on Real Estate. The next article discusses Step #1 – set your plan in further detail!
About the Author: The Next Level Institute is dedicated to helping real estate investors – whether a brand new or a seasoned investor – become more successful with less effort. Get your free 4-part mini-course on finding deals AND learn the 7 keys to sucking in the deals faster than a “Hoover” vacuum! Get your free e-book at: http://www.7steprealestate.com.
Source: www.isnare.com
|
|
|
|
|
| Real Estate, Property, Land and Homes for Sale, lease and rent ... |
| Comprehensive real estate and property listings. Includes information on buying and selling, tips on building, an auction timetable and other helpful ... |
| www.realestate.com.au |
|
| Real Estate | Homes for Sale | Houses for Sale | MLS Listings ... |
| RealEstate.com provides home listings , homes for sale , REALTORS , house listings , apartment locating services. We have Florida real estate , Texas ... |
| www.realestate.com |
|
| REALTOR.com: Real estate listings & homes for sale |
| Search for a new home or find mortgage rates, real estate agents, and relocation services throughout the US, Canada, and Puerto Rico. |
| www.realtor.com |
|
| Real Estate on Yahoo! Real Estate - Homes, Mortgage Rates, School ... |
| Yahoo! Real Estate is the most comprehensive place for real estate, housing market information, school reports, local mortgage rates and more! |
| realestate.yahoo.com |
|
| Find Your Home Value, House Values and Prices on Yahoo! Real Estate |
| Yahoo! Real Estate - Free instant home values and comparable home valuations for millions of houses. Check your home's price or any house value. |
| realestate.yahoo.com |
|
| Real Estate, Houses for Sale, Rentals, Commercial and Businesses ... |
| Real Estate, Houses for Sale, Rentals, Commercial and Businesses for sale at Realestate.co.nz. |
| www.realestate.co.nz |
|
| Real Estate - Buy, Sell or Rent a Home - New York Times |
| Online real estate listings for properties in New York and nationwide. |
| www.nytimes.com |
|
| Century 21 Real Estate Agents and Brokers |
| Agency with franchised offices throughout the United States, Canada, Europe, Latin America, the Middle East and Asia. Find local offices and agents, ... |
| century21.com |
|
| Zillow - Your Edge in Real Estate |
| Zillow provides a free Home Valuation Tool for Real Estate enthusiasts. Whether you're an agent, broker, buyer of investment property or first time ... |
| www.zillow.com |
|
| STLtoday - Homes |
| Real estate agent revels in the boom in downtown St. Louis living ... [more real estate news as seen in the St. Louis Post-Dispatch] ... |
| www.stltoday.com |
|
| Real estate - Boston.com |
| Boston Real Estate - Search the Boston Globe and Boston.com for Massachusetts Real Estate, Boston Condos, Land for sale, Vacation Rentals and more. |
| www.boston.com |
|
| ABCs of Real Estate |
| Real Estate ABCs consumer tips, hints, and resources for home buyers, sellers, and mortgage borrowers. |
| www.realestateabc.com |
|
| washingtonpost.com - Washington DC real estate, Maryland real ... |
| Washington, DC, Virginia and Maryland homes, real estate news and headlines. [Registration required] |
| www.washingtonpost.com |
|
| Coldwell Banker Real Estate Corporation |
| Real Estate from Coldwell Banker ®. Buying a home, selling a home, or finding a real estate agent is easy with Coldwell Banker. Find a home, sales associate ... |
| www.coldwellbanker.com |
|
| Detroit News Online | Real-Estate |
| Sellers around the state have been frustrated with the slow sales patterns of Michigan real estate over the past year or two. But buyers have been enjoying ... |
| www.detnews.com |
|
| Newsday.com - Long Island Real Estate for Nassau County and ... |
| In a real estate market increasingly defined by niches, ... Real Estate Resources. Search by school district for recent home sales in Nassau and Suffolk ... |
| www.newsday.com |
|
| Real Estate for Sale, Rent and Share @ Domain.com.au |
| Real Estate for Sale, Rent and Share @ Domain.com.au. Houses and apartments for sale or rent all over Australia. Thousands of properties in Sydney, ... |
| www.domain.com.au |
|
| Luxury real estate news and features - Forbes.com |
| Luxury real estate news and features at Forbes.com. Core topics include real estate, mansions, condos, co ops, oceanfront realty, second homes, ... |
| www.forbes.com |
|
| Real Estate News - Prices, Mortgages, and Calculators from CNNMoney |
| Latest on mortgages, refinancing, & home tips from CNNMoney.com. Calculators for refinancing, mortgage payments and more. |
| money.cnn.com |
|
| Los Angeles, California, national and world news, jobs, real ... |
| Los Angeles' leading online source for local, state, national, world, entertainment, and sports news. Plus jobs, real estate, cars and shopping information ... |
| www.latimes.com |
|
|