"For NASA, space is still a high priority."Dan Quayle
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Exposed! The Real Estate Wholesale Quick-Turn Flipping Deal
Wholesale real estate investing (i.e. "quick-turn" or "flipping" real estate property) is conceptually very simple. Here's how it works: First, "Investor A" finds a great real estate deal with a lot of equity. Typically, Investor A will have spent a ...
Make a Fortune in Real Estate with No Money Down! Really?
They're sold on late-night TV, hawked at seminars, they sell in books, and, admit it, you've wondered about them--those programs that tell you that you can make a fortune investing in real estate with no money down. Is it true? The answer is, ...
Real Estate You Need to Know: Bundle of Rights
Big Yawn When you first read basic material about real estate, you might ask yourself, "great, but how is all this going to help make me rich?" The answer is: if you want to get rich in real estate, you have to understand what you are buying; if you know ...
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So you've seen your umpteenth infomercial with the guy in his neatly pressed button-upped white T-Shirt grinning ear to ear waving his rock-solid no-money-down rags-to-riches real estate investment course for 3 easy payments of a gazillion dollars (but only if you call now) and now you are thinking, "wow this looks like a great deal, I better get it fast before the special offer expires." You notice how there's always a special offer? Anyway, I am not saying this guy isn't telling the truth, however regardless of which course or school of thought you buy into there are several key areas that one must avoid when engaging in any real estate related transaction.
Pitfall Number 1: Don't Overpay!
The whole point in investing is to find properties that are undervalued. How does one find out what is undervalued versus overvalued? Without getting into technical details, the bottom line is you need experience. Yes much like shopping for anything else, real estate is essentially one of the highest ticket items in the shopping center of life. It's advisable to stick with one market, perhaps the one closest to you in proximity as a starting off point. Through your experience and asking the right questions, you will eventually have a feel for the pulse of the market you are looking after, and of course identify what is considered a good buy.
Pitfall Number 2: Know the Market
Yes, you are actually going to have to do more work! This part is really common sense though, but executing it where the beauty and the payoff comes in. How do you make money in real estate? The most basic way is to buy low and sell high. So from the first step, you have identified general trends in the value of homes, and are pretty good at spotting undervalued homes. Assuming you acquire that home, you may want to profit from it by selling it off to someone else for a higher price. How can you do this? Well there are many ways. For one, most markets appreciate in value over time so if you want a longer term approach that will work. Making upgrades to the property will automatically raise the price of the home as well. Think in terms of what the market wants, not what you personally want. You aren't the one buying it; you are trying to sell it to someone else for a higher price than you bought it.
Pitfall Number 3: Know Your Budget
It may be a fine philosophy to go through life on a whim, but real estate is serious business, and thus diligent financial planning and budgeting is critical to your success. Don't worry you don't need to be a finance geek, however you need to be disciplined and know your budget from the onset, or you may be finding you are learning that you need to make certain renovations or upgrades, and didn't anticipate it going over to a certain cost. Think ahead as to what is needed before actually going forth with investing in real estate.
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Location still rules in Sonoma County real estateSanta Rosa Press DemocratIn 2011's bumpy real estate market, Rohnert Park and neighboring Cotati saw their biggest home sale numbers in five years. Single-family sales rose 21 percent last year, while condominium sales jumped 26 percent, according to the Press Democrat's ...and more » |
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This week's real estate transactionsCharleston Post CourierBuildtech Inc. sold 238 Shadowmoss Parkway, Middleborough Estates to Archie M. Mathis III and Melinda S. Mathis for $335500. DR Horton Inc. sold 252 Shadowmoss Parkway, Middleborough Estates to Justin P. Swain for $397720. Beazer Homes Corp. sold 3027 ...and more » |
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Real estate market betterStatesman JournalNE to a real estate investment trust. / Timothy J. Gonzalez / Statesman Journal Last year won't go down as an outstanding time for the commercial real estate industry, but several big deals managed to jell in the Salem area. And some in the real estate ... |
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