Real Estate Investing - Ten Myths
Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the "right" people? Let's answer by looking at some of the myths of real estate. 1. Real estate investing is for the wealthy. Money helps, but my first real estate investment was a $3,500 lot - which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment - these are some of the ways to start with a little and invest in real estate.
2. "0 down" isn't possible. I sold a rental property for $1,000 down because I trusted the buyer to make the payments, and I wanted the 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a "0-down" deal. "No money down" means none of YOUR money down, and yes, it happens.
3. "0 down" is the best way. If you don't invest some of your own money, you'll have higher payments. You'll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation - I do). There are 0-down deals out there - they just aren't always worth doing.
3. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learn the numbers, and you can start where you are. 4.
Some investors have a "knack" for making money. Sort of. More accurately, some just took the time and risk to learn the market and continue their education. 5. You need to know the "right" people.
It helps, so start the process. Talk to investors, real estate agents, landlords, etc.
6. You have to be great negotiator. If you learn to run the numbers and make the offers based on them, you can be the worst negotiator and still do okay.
8. You need insider knowledge. Understand one deal, and you are on your way. Read and read more, but the best "insider" knowledge comes from experience. 9.
Fixer-uppers are safe. People have the idea that doing the work themselves is the safest way to assure a profit. Not true. Mis-planned "fix and flips" have bankrupted even experienced investors. Most poorly purchased rental properties will only eat a little money every month.
10. The key is lowball offers. The numbers have to work, and you need a plan. You can offer MORE than the market price and make money investing in real estate, if you understand creative financing - and how to do the math..
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.comReal Estate Investing ? start with getting your own finances under control
Real estate has been a driving force in world economies since the days of Babylon, one of the most fantastic developments the world has ever known, and the desire to create, not destroy, is alive and well.
To enter the realm of real estate development requires vision, direction, and risk acceptance, but a knowledgeable investor will take calculated risks that are in line with his or her overall investment goals. There are only four empirically supported ways to delve into the real estate market: actually build, buy an existing development, invest in some one else's development, or buy into a Real Estate Investment Trust. All of these venues carry risk and reward, but they also have distinctive differences that set them apart from one another. The most lucrative would be to develop a property from square one, but these types of investments carry more risk and work.
To develop a project from scratch enables investors to...
Real Estate Investing ? start with getting your own finances under control
Real estate > Real Estate Investing ? start with getting your own finances under control
Commercial Real Estate Lender Pacific Security Capital Launches New Blog Site - Offers Structured Finance & Commercial Real Estate Advisory Services
http://www.pacificsecuritycapital.com - Pacific Security Capital, a leading commercial real estate lender, has recently launched a Commercial Real Estate Loans and Structured Finance blog located at http://commercialloans.blogs.com. The new Pacific Security Capital blog site offers news and resources pertinent to commercial real estate loans, structured finance and advisory services. "The Commercial Real Estate Loans and Structured Finance blog site is part of a multi-faceted program that positions Pacific Security Capital as a leading commercial real estate lender," said Mike Myatt, executive managing director of Pacific Security Capital. "The blog is dedicated to collecting valuable resources for the commercial real estate community." With blog readership rising by 58% since February 2004, according to a Pew Internet & American Life Project study, Pacific...
Commercial Real Estate Lender Pacific Security Capital Launches New Blog Site - Offers Structured Finance & Commercial Real Estate Advisory Services
Real estate > Commercial Real Estate Lender Pacific Security Capital Launches New Blog Site - Offers Structured Finance & Commercial Real Estate Advisory Services
Real Estate Blogging A Serious Look Into The Industry
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Real estate blogs have been more of a journal of opinions until recently.
Today there are thought to be more than 30 million bloggers worldwide and growing by thousands every day. Blog sites have ranked high in many searches as they proliferate throughout various industries, groups and organizations.
Blog is short for web log, and is basically an online platform published on a website where bloggers (those who write the entries) offer their opinions and thoughts.To meet the growing need in the real estate industry a national real estate blog was recently created named Reablogging.com.
With its an impressive line-up of industry whos who the site continues to gather momentum with an eclectic mix of industry visionaries, authors, speakers, leaders and new paradigm thinkers. Collectively...
Real Estate Blogging A Serious Look Into The Industry
Real estate > Real Estate Blogging A Serious Look Into The Industry
Is the Demand for San Felipe Real Estate Signaling Another Baja Real Estate Boom?
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Is the Demand for San Felipe Real Estate Signaling Another Baja Real Estate Boom?
Real estate > Is the Demand for San Felipe Real Estate Signaling Another Baja Real Estate Boom?
Real Estate Investing - Ten Myths Real estate