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thushani
Joined: 24 Jan 2010
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 Posted: Sun Jan 24, 2010 5:54 am Post subject: 10 Tips to Successful Real Estate Investing |
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1. Compare Property Values and Rents
Financial statistics only go so far; the best measure of a property's market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a need.
2. Be careful - Tax laws may change
Don't base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor.
3. Specialize in something you Know
Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties.
4. Know the Costs going in!
Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.
5. Know where your tenants are coming from
If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants' security deposits at closing.
6. Assess the tax situation
Taxes are an integral part of successful real estate investing, and they often make the difference between a positive cash flow and a negative one. Know the tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor.
7. Investigate insurance coverage
If seller's coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price.
8. Confirm Utility Costs
Ask the local utilities to verify recent utility expenses, especially if any of these costs are included in your tenant's rent.
9. Consult Your Accountant
Taxation is a key element of successful real estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code.
10. Inspect!
Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment.
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Sabreen
Joined: 10 Nov 2010
Posts: 1
Location: Italy
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| Posted: Wed Nov 10, 2010 9:55 am Post subject: |
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To become a victorious investor we should be strong-minded and flexible. I think you mentioned tips that will help the prospective buyer to become a successful investor.
Here are top three successful real estate investing tips:
1.An investor should make a decision whether his investment goals are long term or short term.
2.Good position also acting an important role while investing in a property.
3.Take time to study the property.
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yaheestore
Joined: 24 Feb 2011
Posts: 2
Location: hauz
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| Posted: Fri Feb 25, 2011 7:38 am Post subject: |
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Investing in a real estate as for me is a bit risky since you really need o be wise. I'm glad that Sabreen posted some really helpful tips here.
These are indeed the things that real estate investor should consider and give attention to. Thanks for pointing out.
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pepbac
Joined: 25 Feb 2011
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lemonsi2
Joined: 01 Apr 2011
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| Posted: Fri Apr 01, 2011 8:28 am Post subject: |
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I see that i can be a real estate investor too. I'm glad to have found this site and this article - very informative and idealistic! I think i can learn so much more from here, enough to become a wise and a competitive investor. Thanks a lo for the ideas shared.
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Jacmille
Joined: 06 Apr 2011
Posts: 3
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| Posted: Wed Apr 06, 2011 10:17 am Post subject: |
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To be a real estate investor must have experience and have a thorough investigation before you buy something.Determination and focus in order to succeed. Thank for that informative ideas.
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shakina
Joined: 18 Apr 2011
Posts: 8
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| Posted: Sun Apr 24, 2011 6:10 pm Post subject: |
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I have been a home decor for quite sometime now but one thing ave come to understand real estate is how well you finish your estate. A classic finish and innovative design proves your houses in demand always.
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rdecoy
Joined: 26 Apr 2011
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wannia
Joined: 17 Oct 2011
Posts: 4
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| Posted: Mon Oct 17, 2011 9:54 am Post subject: |
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Hi............
Real estate investor have a great experience about it.
I am very thanks full to you for sharing useful stuff.I appreciate you for your this great tips.
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mickle_john
Joined: 21 Nov 2011
Posts: 4
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| Posted: Mon Nov 21, 2011 9:23 am Post subject: Re: 10 Tips to Successful Real Estate Investing |
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| thushani wrote: | 1. Compare Property Values and Rents
Financial statistics only go so far; the best measure of a property's market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a need.
2. Be careful - Tax laws may change
Don't base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor.
3. Specialize in something you Know
Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties.
4. Know the Costs going in!
Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.
5. Know where your tenants are coming from
If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants' security deposits at closing.
6. Assess the tax situation
Taxes are an integral part of successful real estate investing, and they often make the difference between a positive cash flow and a negative one. Know the tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor.
7. Investigate insurance coverage
If seller's coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price.
8. Confirm Utility Costs
Ask the local utilities to verify recent utility expenses, especially if any of these costs are included in your tenant's rent.
9. Consult Your Accountant
Taxation is a key element of successful real estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code.
10. Inspect!
Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment. |
Waoo,
Great tips here.. thanks for sharing with us..
I really need this type of information..
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Last edited by mickle_john on Sat Dec 17, 2011 6:01 pm; edited 1 time in total |
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victoria
Joined: 17 Dec 2011
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| Posted: Sat Dec 17, 2011 7:32 am Post subject: |
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Good stuff ! Thanks for share with us. Well, investing in real estate or property is one of the best ways to make money, both short term as well as long term. However, if you really want to benefit from your investment, then it is important to remember that this is not a game but a business, which requires time, perseverance and knowledge to reap benefits.
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Blake
Joined: 19 Jan 2012
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| Posted: Thu Jan 19, 2012 11:31 am Post subject: |
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When it comes to investing, everybody has certain goals and aspirations. However, we have found that there are certain guidelines every aspiring real estate investor needs to know:
1. Compare Property Values and Rents
Financial statistics only go so far; the best measure of a property's market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a need.
2. Be Careful - Tax Laws May Change
Don't base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor.
3. Specialize In Something You Know
Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties.
4. Know The Costs Going In!
Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.
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akonsouth
Joined: 20 Jan 2012
Posts: 4
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| Posted: Fri Jan 20, 2012 1:06 pm Post subject: akon |
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| That's a very impressive article, thanks for sharing with us, and hope to read more from you. We've read it many times. |
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david0028
Joined: 11 Dec 2011
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leomasonb
Joined: 04 Oct 2012
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| Posted: Thu Oct 04, 2012 2:59 pm Post subject: |
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Once the property is in move-in condition then you have to find a tenant. If you're wholesaling properties, you have to make sure that there's enough spread to make it worth your time and effort. If you're doing lease options, you have to stay in the middle of the transaction until the buyer cashes you out. All of these different real estate techniques have their advantages, but they also have disadvantages.
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