History has proven that it is best to invest in a buyers market, not a sellers market. Even though housing sales in America continue to decline, foreclosures have reached an all-time high. This means that serious investors need to concentrate their energy on buying real property.
The time is now to get into the real-estate investment market. These tips will help you make good long-term investments.
* Stay away from “unique”properties It’s time to reconsider if you have your heart set on a property made entirely from sheet metal. Look for houses that appeal to the majority of families so you are able to sell them quickly and easily when necessary.
* Work with the pros to become a pro. A HomeVestors of America franchise might be worth it if you’re looking to make a long-term investment in real estate. The Dallas-based franchise supports and trains franchisees that specialize in purchasing homes in dire need of repairs. Call 1-866-249-7990 or e-mail for free information [email protected]
* Make the capitalization rate a low priority. The cap rate is the projected return of the property if it were bought completely with cash. This is often not feasible. Instead, you should focus on how much money is coming in and going out, as well as the property’s depreciation.
* Pay a little extra for quality renovations done by experienced craftsmen. You will have big headaches down the road if you try to save money on repairs, whether it’s for repainting, bathroom remodeling, or a complete property clean.
* Stick to your desired outcome. You will succeed, no matter how new or experienced you are in real estate investing. To keep you on track and accountable, write down your goals and the expected fulfillment dates and share them with others.
