Posted on : 13-09-2010 | By : admin | In : Real Estate
There is no doubt that you will be able to earn a large profit when you decide to make the right real estate investment. However, before you have the opportunity to earn this profit, it is important to know what the right real estate investment is. Here, we will take a closer look at some of the main things that you should think about when determining what you will want to make your real estate investment in.
One of the things that you will probably want to think about when making a real estate investment anywhere is the type of real estate that you are investing in. It is important to know what will earn you the largest profit in the area that you are planning on making your real estate investment in. For example, in New York City, you may be able to earn the most money through an apartment complex building as your real estate investment. However, in London, you may be able to earn the most money by investing in a townhouse. While some people prefer making a real estate investment that will earn them immediate cash, others prefer a real estate investment which they will be able to gradually earn money through, such as owning apartments or condominiums that they will rent out. Overall, it is important to make sure that you do the research in order to find out what the most in demand type of real estate is in the area which you are considering before you decide to make a real estate investment that you think will give you the largest return in profit.
Next, you will want to consider where you want to make your real estate investment. This may be determined by the type of real estate investment which you are interested in making, or you may want to make an investment in the country that you already live in. Overall, however, the location that you decide to make a real estate investment in can have a huge effect on how high or low your profit can potentially be. Aside from the type of real estate investment you want to make, it is important to determine early on where you will want to make this real estate investment.
Lastly, no matter where you live, one of the things that you will want to think about is how much money you put into your real estate investment. Not only do you have to consider the cost of the actual property of your real estate investment, but you will also need to think about the cost of renovations. It is important to make sure that you do not put more money into your real estate investment than what you will be able to earn from it when it comes time to sell.
Choosing the right real estate investment is very important. As long as you follow at least some of these tips, you will be one step closer to choosing the real estate investment that is the most suitable for you.
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inflation.us Sign Up Today! Interview with Real Estate Investor Corey. We discuss the current market for investing in residential and commercial properties. Corey goes into detail about the recent collapse in real estate an what he expects to come in the next few years. He goes into detail how investors were hurt, even in moderately collapsed markets and how there is little upside long term in playing the real estate game.
Help answer the question about real estate
Does becoming a licensed real estate agent/broker before buying your home save you money?I am planning to buy a home around $700K in New York City. I'm wondering if I will save any money by becoming a licensed real estate agent/broker (I realize I have to take the test and pass) and then purchasing the home for myself. I would think that by doing this, I would save the broker commission that I would otherwise be paying another real estate agent/broker. Is this a valid assumption? Please provide any information about this. Thanks a lot.
Wow all this negative talk about being an agent. It is not nearly as bad as these people make it out to be. It all about what you put into it. If you go at this business half assed, and wait for business to come to you well then yes you will starve and be in the majority of agents. If you go out there and take the bull by the horns, you can make more money then doctors, lawyers, and ceo's. I take my business very seriously, and my income shows it. I am in that 10% that the guy above me is talking about. He is right, 10% of the agents make 90% of the money earned in this business. That means the other 90% are splitting the lousy 10% left. But who's to say you can't be in the top 10%? Its not going to happen over night, but if you start off strong and keep it that way, you will be fine in 3 months. Its the people who are in this part time, or half hearted that are unsuccessful.
As far as not having free time well that’s up to you. At first it may be hard to take time off, but once your going you can work like everyone else mon-fri 9-5. I do, and have no problems. When you are a top producer you are not needing to be at people's beck and call, they want to work with you cause your the best, so they will do it on your time. If not, you refer it out, take the referral fee, and move to the next. When you are not dying for the next sale, you don’t need to be a slave to you clients. Remember, this doesn’t mean that they don’t need excellent service, that is the only way to get repeat business.
Screw all the nay Sayers on here, they are just bad agents.
RE Agent,
Remax
Wrong, Wrong, Wrong…Never buy a property banking on it's appreciation. You need to be buying because of the equity already built into the property. This is a buyers market right now and if a property doesn't offer good equity you should walk away. You need to do a lot more research about this business before you start doing anything. Just the approach you are talking about taking is why you see so many people in trouble with foreclosures today. Please learn how to evaluate a property looking at cash flow, taxes, maintenance expenses, vacancy rates, and much more before you make a mistake that may bury you. Once you fully learn about the effect of these things you will come upon a strategy that will work for you. I don't care what all these so called gurus claim they can teach you, there is no magic formula that fits everyone. Knowledge of all these methods will allow you to come up with a plan that will work for you. If you are willing to put in some hard work you will find it to be a fun and rewarding adventure. Good Luck.
Hello, I have been a real estate investor for over 7 years now. I am also a licensed Real Estate Broker. The best advice I could give to you is research as much information as you can. There are so many methods to investing and there is no better way. It all depends on your market and your own personal niche. The only way you can find that out is by researching and finding what is best for you. For example, I only invest in single family homes below 20k that need rehabbing. My profit must be at least 25k or I will not do it. I hope this helps! Good luck.
I agree. It is much better.
this song sounds alot different than seven
Housing prices are excellent in the Detroit area right now. However, two things must be considered when determining whether you want to own property in Michigan, especially if you currently live in SoCal.
1. Rent or resell.
Although you will probably get a great price on a great home, the economy in this area, at this time, is not such that you would recuperate your costs to resell. The home could sit on the market for quite some time costing you money. If you decide to rent, you will still be saddled with the costs related to rental rehab when renters lose their job, due to the poor economy, and need to move out.
2. Longdistance ownership.
You currently live in SoCal, the home is in Michigan. You would have to factor in costs for a property management company, maintenance, services, etc. These costs could eat into your positive cash flow, resulting in a net loss on what was a great price for a great house.
Given the scenario you described, personally, I wouldn't invest in property in the Detroit area at this time. Maybe when the national economy gets better.
My .02's worth.
Good luck, whatever you decide to do.
no. 'like kind' means just that. Like kind means that you trade one type of investment property for another investment property that is like the one your getting rid of. for example one rental for another rental. You can do an exchange where only part of the exchange is like kind and that gets way more detailed than a typical like kind exchange (which is very detailed) If you are getting ready to do this, i suggest you make an appt with an enrolled agent (an enrolled agent a tax preparer who has passed special exams and proven competency.) who will have the expierence to help you with this. It is worth your time and money to do this right. if you mess this up it can cost you thousands of dollars in the long run.
ok i'll have a shot at this.
I'm a relator and will try to walk you through it and hopefully you can come to a good decision.
First off yes you can be a real estate investor and agent at the same time, only you must disclose the fact to the Seller and their agent in WRITING before you buy .
Secondly you said you wanted to be an agent to save on fees, well this won't be the case to be an agent you have to be assosciated with a broker, the broker owns the listing not you. Sometimes after you have sold a few properties you can sell one of your own without owing the broker a commision, but you'd have to working full time. To retain your licence you must work at least 235 hours per week, 40 weeks out of the yesr.
Only way to avoid paying broker a fee is to become a broker to do this you need to have a college degree and 2 year real estate experience, plus proof of financial stability.
Also make sure the school you intend to go to is approved by the real estate division in your state, and make sure you know where the testing centre is. Basic start up fees vary depending on the brokerage you decide to work for, varying from a couple hundred buck yo a couple of thousand, then you have relator membership fees, plus business licences and other levies placed by you state, city and muncipility, however if all this doesn't put you off it can be a very rewarding career.
Be sure to check out your states education requirements and state specific laws as these vary from state to state by googling the real estate division and your state.
I wish you the best of luck
Well, it depends.. If you are lucky, you'll find real beauties for a good price but there are also very expensives homes. The real estate in Panama right now is good, there are lots of houses for sale (way more than last year). You can also always visit a real estate website to find something. Hope this helped a bit, good luck!
-Milena-
for real haha thats pretty cool.
The LP2 version of this is perhaps my favorie Sunny Day Real Estate track, but this one is just way more raw and intense, thanks for posting it!
It was the end of ’94 for sure. We went to Arizona the day after Christmas ’94 and didn’t get back until the first week of January ’95.
Good soundtrack its got the flaming lips, u2, the offspring, method man, and that seal song is his only good song
kurwa…masterpiece!!!!!!!!
You sound a lot like me…
I went the same route as you: Got a finance degree, bought a duplex in college, pulled equity out two years later and bought a fourplex, got a job after college helping entrepreneurs and startups with angel investments and now I work as a business consultant and I own a couple of businesses myself.
So…from my perspective, you seem to be on the right track with real estate. It is a good investment especially if you can live there for two years when you purchase it. Owner occupied properties have lower down payment and longer loan terms so long as they are 4 units or less.
Regarding the degree…Finance is by far the best degree if you are interested in real estate. Analyzing cash flows, figuring "net present value" and capitalization rates are imperative to making sound investment decisions that will make you a profit.
The problem I have found with a finance degree is not that it is too broad, the problem is that the workplace views people with accounting degrees as more suitable for financial analysis positions than people with finance degrees.
I know that sounds crazy, and to a large part it is… People who have been trained to read and interpret financial statements do it better than people who have been trained as bean counters. Finance is a relatively new field so I believe over time it will become more accepted and better for graduates of the program.
Until then, my advice is stick with the Finance degree but add in an accounting minor or even double major with accounting/finance (then you can sit for your CPA). You will never regret taking those extra classes when it comes time to apply and interview.
Regarding a "good paying job" 30K a year shouldn't be a problem (depending on where you live). In 2002 I made 29K a year starting, after two years I was up to 36K, then I transfered jobs/markets and now I make 52K (but I also got an MBA).
Good Luck
Mr. BizPlan
dude that must have been ’95 cause that’s when they split for 2 years
This version>>>>>> LP2 version by so much…