Investing in real estate is one of the most attractive ways available to most people to set themselves up financially for life. Moreover, real this can be done by almost anyone by starting with one property and building up slowly and safely.
A lot of people practice property investing as their core profession and, in fact, can make a lot of money that way.
Real estate investing is really an art and, like any art, it takes time to master. The key, of course, is to buy at a lower price and sell at higher price and make a profit even after paying all the costs involved in the two (buy/sell) transactions. Although another way is to buy and hold property over the long term. Generally, people are of the opinion that investing makes sense only when the values are on the rise. However, real investing for profits is possible just about any time (and as I just said, real estate investing is an art). Here is a list of tips that can make investing in property profitable for you:
1) Look for public auctions, divorce settlements and foreclosures (bank/FHA/VA): Since quick settlement is the preference here (and not price), you might get a property at a price that is much lower than the prevailing market rate. You can then make arrangements to sell it at the market rate over a short period of time. However, make sure that the property is worth the price you are paying.
2) Looking for old listings: The old listings that are still unsold may provide you with good real estate investing opportunities. Just get hold of an old newspaper and call up the sellers. They might have given up hope of selling that property at all and with a bit of negotiation you can get the property for a real low price.
3) The hidden treasure: A really old (and dirty) looking house may scare off buyers. But this might be your chance to buy at a discount that can yield good profits. So, explore such properties and check if spending a bit on them can make them shine. You can get these at very low prices and make a big profit in a short time.
4) Team up with attorneys: There are a number of attorneys who handle property sales on behalf of sellers or in special circumstances (like the death of the property owner). They might sometimes be looking to dispose off the property rather quickly and hence at a low price. Be the first one to grab such real estate investing opportunities and enjoy the profits.
5) Keep tab on the newspaper announcements: Property sell offs due to deaths, divorce settlements, immediate cash requirements and other reason are frequently announced in local papers. Keep track of such real estate investing avenues.
Using the above tips you could pick up property at a discount and onsell for a profit or you could rent out the properties and use the rent to boost yor income. If you do this enough times you could even retire and live off the rents.
A lot of people practice property investing as their core profession and, in fact, can make a lot of money that way.
Real estate investing is really an art and, like any art, it takes time to master. The key, of course, is to buy at a lower price and sell at higher price and make a profit even after paying all the costs involved in the two (buy/sell) transactions. Although another way is to buy and hold property over the long term. Generally, people are of the opinion that investing makes sense only when the values are on the rise. However, real investing for profits is possible just about any time (and as I just said, real estate investing is an art). Here is a list of tips that can make investing in property profitable for you:
1) Look for public auctions, divorce settlements and foreclosures (bank/FHA/VA): Since quick settlement is the preference here (and not price), you might get a property at a price that is much lower than the prevailing market rate. You can then make arrangements to sell it at the market rate over a short period of time. However, make sure that the property is worth the price you are paying.
2) Looking for old listings: The old listings that are still unsold may provide you with good real estate investing opportunities. Just get hold of an old newspaper and call up the sellers. They might have given up hope of selling that property at all and with a bit of negotiation you can get the property for a real low price.
3) The hidden treasure: A really old (and dirty) looking house may scare off buyers. But this might be your chance to buy at a discount that can yield good profits. So, explore such properties and check if spending a bit on them can make them shine. You can get these at very low prices and make a big profit in a short time.
4) Team up with attorneys: There are a number of attorneys who handle property sales on behalf of sellers or in special circumstances (like the death of the property owner). They might sometimes be looking to dispose off the property rather quickly and hence at a low price. Be the first one to grab such real estate investing opportunities and enjoy the profits.
5) Keep tab on the newspaper announcements: Property sell offs due to deaths, divorce settlements, immediate cash requirements and other reason are frequently announced in local papers. Keep track of such real estate investing avenues.
Using the above tips you could pick up property at a discount and onsell for a profit or you could rent out the properties and use the rent to boost yor income. If you do this enough times you could even retire and live off the rents.
No comments:
Post a Comment