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10 Tips to Successful Real Estate Investing

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Money Talk > Real Estate

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10 Tips to Successful Real Estate Investing  Reply with quote  

1. Compare Property Values and Rents

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 need.

2. Be careful - Tax laws may change

Don't base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor.

3. Specialize in something you Know

Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties.

4. Know the Costs going in!

Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.

5. Know where your tenants are coming from

If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants' security deposits at closing.

6. Assess the tax situation

Taxes are an integral 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 advantage. It may be a good idea to consult a tax advisor.

7. Investigate insurance coverage

If seller's coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price.

8. Confirm Utility Costs

Ask the local utilities to verify recent utility expenses, especially if any of these costs are included in your tenant's rent.

9. Consult Your Accountant

Taxation is a key element of successful real estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code.

10. Inspect!

Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment.
Post Thu Jul 29, 2010 4:49 am
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Really Helpful tips  Reply with quote  

I currently have properties for sale and I really want to make a bang for those properties to be sold so I'm trying to get on the SERP's to rank because most have said that its an effective way to get leads on this properties I'm selling.
Post Wed Aug 04, 2010 2:11 am
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Understanding that the real estate market is volatile and can be somewhat unpredictable, investors also must make sure to have a planned exit strategy, should the time come to bow out of the real estate market.
Post Wed Aug 04, 2010 11:38 am
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u dnt have to sell properties because property can get good in future so u cnt compare it to other source.....
Post Wed Aug 04, 2010 2:27 pm
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I might also add be sure you do not have to invest a lot of money fixing things......

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Post Wed Aug 04, 2010 5:14 pm
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Sharpen your negotiation skills. Find out terms that are used by agents and sellers. This will help you in knowing what the other person is telling and not get confused. An investor should have negotiation skills.
Post Mon Aug 09, 2010 5:41 am
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I think that investment in real estate is very productive, but in occurs in the case when you have your strategy to do it!
Post Wed Aug 11, 2010 7:21 am
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Generally, people who are well informed about the real estate is easy to survive, on the other hand people who have more confidence and is a starting line of a lot of property struggles to survive in this field. Lose all the money invested and the major economic problems.
Post Wed Aug 11, 2010 12:00 pm
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Post Fri Aug 13, 2010 6:54 am
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Real estate investment is a long term business. It needs a proper planing and adoptive a value able strategy to survive long term. Mostly investor want to be millionaire over the night but they suffer loss.

Long term investment with good polices is key to success in the RE field...
Post Fri Aug 13, 2010 1:36 pm
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As money value changes day by day with time so there may be a proper research required to process any business industry. In real estate enterprise there must be a proper plan that may results more benefits on the future.

No fake signatures - thanks
Post Wed Aug 18, 2010 7:59 am
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Very good tip, do you have a blog?
Post Sat Aug 21, 2010 5:25 pm
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Real estate business is an awesome business. It all depends on how you progress it. In general people who is well knowledge in real estate finds to be easy to survive in it, on other hand people who is more confident and has to base line about real estate struggles a lot to survive in this field. Anyway nice tips.
Post Wed Aug 25, 2010 9:50 am
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Also location is everything with real estate investing . it's best to plan way ahead and do research in the area on if say its a small area thats growing fast and someone is planning on building a mall near by or even a walmart near by. having a grocery store or shoping area near by the home you may invest in is very crucial in what buyers/renters want....

Or say its a highly populated area and maybe the military is insterested in setting up a base there. with the military its an amazing chance to make money because they get paid for houseing seperate from there base pay and are allways looking for a good house to rent while they are stationed in the area. or if they are career military buying a house istead of rent since they are usualy stationed longterm in most cases i've been told.

Hope this helps someone
Post Tue Aug 31, 2010 7:13 pm
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Great post.Thanks for tips ,really very useful to me .
Post Thu Sep 16, 2010 6:31 am
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