Investing in Real Estate
Real Estate can be a very lucrative investment. You can even make a career of it. I have assisted many clients with the purchase and sale of real estate that were bought and sold for income. Real Estate Investments may include…
Rental Properties Residential, Land and Commercial properties are properties that can be leased. Maybe start with a Single Family Home, eventually add some Duplexes and then work your way to a large Apartment Complex. Rentals can be very profitable and can be a career if managed correctly. Start small and build your portfolio. You will need a professional and knowledgeable team comprised of but not limited to a Real Estate Agent, Appraiser, Lender, Construction/Maintenance professionals and a trustworthy accountant.
TIP: Nothing is better than a good Tenant. Be diligent and check past rental references, the Sex Offender Site and conduct a criminal back ground check before you sign the lease. Know who you are renting to.
Spend time finding a lease that protects you as the Landlord and educates the Tenant on their rights and responsibilities. Know the State Laws and your obligation as a Landlord.
Resale FORECLOSURES, SHORT SALES AND ESTATE SALES can be profitable if you purchase them at a discounted price. Some of the properties require repairs or/and remodeling. These can prove to be profitable when they have been rehabbed or updated and resold. Of Course, these Investments can also turn into a not so good Investment. It is important that you take your time when purchasing a property. Hire a Professional Home Inspection before you purchase a Property. Buying AS IS is nice for the Seller but can be a nightmare for the Buyer. Do the math and make sure you allow for hidden defects. If the numbers don’t add up its best to move to the next venture.
Contract Sale – Some Sellers like to be the bank for the Buyer. This is great for the Buyer if they are unable to obtain a loan right away. Profitable for the Seller because of the Rate of Return on their money is favorable. Qualify your Buyer like a Bank Underwriter would before they close the loan. Be thorough. Pull their credit report, check credit references, check the Sex Offender Site and conduct a criminal back ground check. You might still wish to proceed but know your Buyer before you become the Bank. Allow the Buyer time to conduct a Home Inspection. Know that they can afford the house. An Attorney is a must and should prepare all the legal documents accordingly.
Call us to schedule a time to discuss your new career in real estate investing!