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Successful Real Estate Investing Tips

Discussion in 'General Business' started by Albert L., Jan 24, 2011.

  1. #1
    • It is vital to study all the related documents of the property before investing, to see the license of a broker if any, to check for liabilities etc. All contracts have to be in writing.

    All details such as the names of all parties, address of the property, purchase price, area, etc. have to be entered in the contract along with the signatures of all parties.
    • It is also prudent to hire a property lawyer to look into the intricacies of real estate contracts.
    • Compare Property Values and Rents: Do not rely heavily on financial statistics, instead always measure nearby properties sales and rent price. 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 requirement.
    • Assess the tax situation: Taxes are an essential 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 benefit. It may be a better idea to consult a tax advisor.
    • Make sure your property have insurance. You do not know what future risk lies ahead, so it is better to "prepare the umbrella before the rain". Do not forget to investigate your insurance coverage.
    • Be cautious - Tax laws may change: Don't base your tax investment on current tax laws.

    The tax code is frequently changing, and a good investment is a good investment in spite of the tax code. The right property with the right financing is what you should look for as an investor.
     
    Albert L., Jan 24, 2011 IP
  2. tracijackson

    tracijackson Peon

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    #2
    I tell my friends that the most important thing to keep in mind about investing is that you simply can't get emotionally involved with these investments. Just because it's a nice-looking property doesn't make it a good deal. And most of the information you'll get from realtors and sellers won't be complete or valid, so you've got to do your homework.

    You can make lots of money in the market, but you really need to go in with eyes wide open!
     
    tracijackson, Jan 24, 2011 IP
  3. jessicaloreen

    jessicaloreen Member

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    #3
    its a nice advice... same from me.
     
    jessicaloreen, Jan 24, 2011 IP
  4. Sara09

    Sara09 Peon

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    #4
    Real estate is a good investment but you should need to take care of some points.
    Try to choose a property in busy towns or cities rather than choosing in a country. There are more people in towns so there will be more demand for your property.
    Its better to scrutinize the property before you afford to buy it.
    You invest your hard earned money right! So you need to secure your money. And hence go for real estate investment insurance coverage and consult with insurance professionals how to protect your money.
     
    Sara09, Jan 25, 2011 IP
  5. Seqqa

    Seqqa Well-Known Member

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    #5
    I invest in a lot of asset classes, I like stocks because of the amount of control I have on risk. I tend to follow a Warren Buffet type formula to pricing up companies and finding companies that are still undervalued by 30% or more normally.
     
    Seqqa, Jan 25, 2011 IP