| |
| |
|
|
Real Estate |
|
Real Estate Investment Requires A Team
I had a hard time at first with real estate investment. One of the reasons was that I tended to be a "lone wolf," trying to do too much myself. I've since learned that to really do well investing in real estate, you need to have a team of people you can trust and rely on. Here are some possible team members, and what they need to be on the team. 1. Real estate agent. A licensed agent with experience in the area you invest in and access to the MLS (Multiple Listing Service), can be a great help. If she is a seller's agent, she can still ethically bring the best deals to you once she knows you're a serious buyer. 2. Real estate attorney. This should be someone familiar with the laws and legal customs of your area, and have experience with the type of deals you intend to do (If you are buying rentals, she should be familiar with doing evictions, for example.) 3. Accountant or bookkeeper. Keeping proper books for real estate investments is getting more complicated with all the tax-law changes. Find someone that understands the law, and what you want. 4. Mortgage broker or banker. The first can offer many options, but the second can make the loan decision. Each has their advantages, and you could use both. In either case it's important that they understand what you want (fast closings, lower interest, corporate loans?) 5. Appraiser. Not only can a good appraiser give you an accurate valuation of a property, but they should be able to suggest ways in which you can raise the value of a property. Use someone that will talk to you. 6. Inspector. In some areas it is easy to become an inspector with little experience. It's best if you use one that is or used to be a contractor, so he can find the problems AND give you some idea of the cost of repairs. 7. Insurance agent. A good one will understand what you want, and find ways to save you money. Insure all your properties with one agent, and you're likely to have discounts available, and better service. 8. Escrow officer. They will usually be with a closing company. Look for someone that's efficient, and can explain things clearly to both sides. If he is confused by a slightly creative contract, he should educate easily or be replaced. 9. Cleaning person. Having a trusted person or crew ready means a fast turn around when you buy a rental or rehab project. 10. Property manager. Be sure that the company you hire has exerience, is responsive, and will have time when you call. A good property manager can tell you BEFORE you buy, what you should get for rent in a given area. Real estate investment is less stressful and more profitable with a good team on your side. Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
MORE RESOURCES:
Real-Estate - Google News |
|
|
|
RELATED ARTICLES
A Crash Course On The Payout Options Available To You When Selling A Mortgage Note Okay, let's take a look at the typical payout options:Full Purchase - The investor buys the entire note. This alleviates the seller of the responsibility to collect payments in the future. Lease Purchasing Is The Perfect Home-Based Business Some call it the 30 second commute. We call it wonderful. The Costs of Transforming Your Home into a Buyers Dream House Turning your house into the home of a buyer's dreams doesn't have to cost a great deal of money. In fact, armed with some paint and the determination to work hard, most home sellers usually need to invest only about $500 to spruce up their homes for a quick sale. Real Estate Investing Produces Extraordinary Profits Imagine making $5000 a year from real estate investing without recognizing you are real estate investing!Real estate values are so dynamic. The marketplace is always fluid and changing. Making Money In Real Estate - 10 Ways Making money in real estate is an endless topic that includes all the various types of real estate investments. There is land, apartment buildings, homes, commercial buildings and more. Real Estate Appraisal - Rental Properties Real estate appraisal for rental properties isn't the same as for single family homes. If you were looking at a 24-unit building, it would be difficult to find similar ones nearby that have recently sold. Big Discounts With Property Investment Clubs? A stagnant stock market, low interest rates and booming property prices over recent years have lead to more and more personal investors deciding to join property investment clubs.Property investment clubs are organisations that either buy property in volume and resell it to their members at discount prices or negotiate the purchase of large numbers of properties from developers, again ensuring discounted prices. Sell Your Income Property For More Selling income property isn't like selling a house. You can paint a house, and get a little more because it looks nice. Houses For Sale By Owner - Negotiating Tips Houses for sale by owner, also known as "FSBOs," are a unique case in real estate investment. Buying from an uninformed seller who thought he knew enough to handle everything by himself can be frustrating. Bulgarian Property Market Insight GOLF GRABS BULGARIA!At the present time there are only three golf courses in the whole of Bulgaria: one at Elin Pelin, near the capital, Sofia, and two owned by Air Sofia. These are located at Ihtiman, opened in 2000, 40km from Sofia, and at Sliven, opened in 2004, 90km from the Black Sea. How to Buy Fixers for Profit Do you dream of becoming a multi-millionaire real estate investor? Here's how to get started: find a bargain "fixer-upper" owned by a worried seller. The hardest house for a homeowner to sell is a "doghouse," "dump," or "fixer-upper. Real Estate for Beginners: Residential Property Taxes Whenever you own a piece of land, you will be taxed for it. Whether it is commercial property or residential property, there is still a tax to pay, whether it is for a village, town, city, county, or state. Making a First Impression When Selling Your Home So you've decided to take advantage of the booming real estate market and put your house up for sale. As you know, buying a house is the most important purchase a consumer can make. Ten Creative Financing Techniques Do all the creative financing techniques you hear about really work? Yes, actually. They probably have all worked somewhere for someone at least once. French Property - a Buyers Guide to Purchasing Property in France The CompromisThis document is the document you will sign agreeing to buy the property at the agreed price. It is signed by both vendor and purchaser and sets out all the details of the purchase price and fees. Preserve Equity, Build for the Future Using a 1031 Tax Exchange Thinking of trading up on an investment resort property? If so, look into 1031 Tax Exchanges (based on IRS Code Section 1031), which allow taxpayers to defer taxes on capital gains resulting from the sale of investment real estate, often a sizable sum since combined Federal and State taxes can run as high as 38 percent.With an exchange, owners are able to preserve equity, while still selling the property. European Second Home Prices Wilt in Drought Spain and Portugal have suffered one of their worst droughts on record this summer, with consequences from empty swimming pools for the tourist to economic disaster for farmers losing their crops and livestock.Roger Munns, Managing Director of Tribune Properties, predicts that property prices in the two European countries could drop as much as fifteen per cent in some areas as more owners decide to put their villas and apartments on the market. San Diego Home Evaluation The Southern California city of San Diego has all the attractions of a big city with the tropical feel of the coast. Covering nearly 350 square miles with over 1. Spanish Estate Agents and Inspection Visits The only way to buy a home in Spain is during an inspection visit. If you are serious about buying a property, and are in a position to purchase, this is the most effective way to ensure your find the ideal home, in the ideal area at the right price for you. Property Investing - Am I Buying for Profit or Prestige? All of us have emotional preconceptions and assumptions. They are reinforced and fine tuned by our experiences of life, be they traumatic, disciplined or consistent.
|
|||||||||||||||
