The Keys To Success To Investing In Real Estate

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The Keys to Success to Investing in Real Estate
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• Choosing Your Market Timing The Investment
  Wisely
• Buy Low
• Tap into the Hidden Market
• Understand Your Costs Up Front
• Understand The Market

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Choosing Your Market Timing The Investment
Wisely
For successful real estate investment, its more
important to know your local market than just
whats going on nationwide. Your purchase and its
success will be most influenced by the factors at
work in your specific real estate market. A good
rule of thumb to become successful in real estate
investing is to avoid very hot markets. Some real
estate investors here may brag about the
appreciation of their properties or rising rates,
but you risk buying at the top of the market and
losing your money.
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Buy Low
Real estate investing can be compared to
investing in a dividend-paying stock. The return
on investment is based on how cheap you bought
the commodity. However, you have to look at the
return on the investment. A cheap little house in
an unsafe neighborhood can be bought for little
money, but you wont get much money from it,
either.
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Tap Into The Hidden Market
The ideal case is buying property from a
distressed seller because you can get it way
below the fair market value. Forget foreclosure
auctions this can yield deals, but youll often
find properties in dire need of repair. Instead,
look for homes with distressed sellers who
havent put it on the market yet. The couple
going through a divorce or family that wants to
sell Moms home after she passed are the ideal
sellers they just want to get the money, and the
buyer is probably getting a well-maintained home.
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Understand Your Costs Up Front
If youre new in the business of real estate
investment, it is crucial to understand your
costs upfront. It isnt just the cost of the
property and realtor commissions. Youll need to
pay for repairs, and too many newcomers to real
estate investing dont know how to accurately
estimate costs to repair that cracked foundation,
fix electrical problems, and address pest
infestations.
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Understand The Market
One of the best ways to avoid problems when
investing in real estate is to understand the
market. Understanding your real estate market
will help you to evaluate the price of an
investment property. Know how much the typical
house in a community is worth per square foot and
the rent you could charge for a given investment
property. Renovate properties in ways that make
it more appealing to the expected buyer.
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