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A Real Estate Primer
There are a great many books and web sites devoted to real estate investing out there, but most of them concentrate on one specific area of investing. It's often hard to find a general description of real estate investing, one that lists the various real estate investing strategies and how to get started. That's what this article will set out to do. Before beginning, you must understand that real estate investing is not a get rich quick scheme. Real estate investing can, and will, make you wealthy, but it certainly won't happen overnight and it will require work. As you perfect your technique and gain experience, the amount of work needed to gain a lot of money will reduce, but it will take effort and persistance to make it there. If you're completely new to real estate investing then the only sort of investing strategy you're likely aware of is rental properties. Landlording has been around since there have been houses and people to rent them to, and it will continue to be a wealth builder. In fact, most of the 'no money down' real estate strategies you hear about still include rentals as part of their plan. Still, there are other ways to make money from real estate investing out there. The next most 'traditional' method is to buy a fixer-upper, fix it up, and then sell it for a profit. This is commonly referred to as 'rehabbing' and is a very good way to make a lot of money in a relatively short period of time. Most rehabbers won't even look at a property unless they can make at least $20,000 of profit, and this is usually within 3-4 months time. Rehabbers tend to be experienced investors with available money, or have partners who help provide any extra cash required. But if you're just starting out you likely won't have access to large amounts of money. One way to get involved in this area of real estate investing without needing any money at all is to 'flip' houses to these rehabbers. What this entails is you going out and finding these fixer-uppers, noting all the work required to fix the place up. You then place a low offer in to the owner, taking into account the fix up price and some built in profit. Once you have the house under contract you then flip it to a rehabber for a small fee. This can result in several thousand dollars for you, without you having to spend a dime. 'Flipping' properties can be a great way to start your real estate investing career. Another 'no money down' technique that's popular on the late night infomercials is called 'lease optioning'. This is basically a rent to own strategy that allows you to control a property without ever taking ownership of it. It's a slightly more complicated strategy that warrents its own article, but it does allow you to make money in several different ways, each without ever having to spend any of your own money. If you're not put off by longer term investments then lease options are definately worth more research. There are other strategies that involve foreclosures and getting the home owner to sign the deed over to you, but for now I'd suggest learning more about flipping and lease options as entry-level real estate investing strategies. How do you find properties that would make good real estate investments? Again, an entire article can be devoted to that, but there are basically two ways: you go looking for them, or you get them to come to you. The first way involves reading the newspaper classifieds and scanning the Multiple Listing Service (MLS). This is where having a great real estate agent is a must - they can get you more details on homes than you can view on the mls website, and can often let you know of great deals before they even become available to the general public. Having home owners contact you means setting up an advertising campaign. This can involve placing ads in the newspaper, placing bandit signs at strategic locations around town, starting a direct mail campaign, etc. There are many ways to let people know that there's a new real estate investor in town, and it would be in your best interest to try each of them to see which ones work best for you. Whether you decide to go looking for deals, have them come to you, or both, they key is to be persistant. Real estate investing is a numbers game - most of the time you won't be able to make the deal work, but every time you do it translates into thousands of dollars for you. The more owners you talk to, the more deals you'll be able to do, the more money you'll make. I hope this article gives you a bit of an idea of what the world of real estate investing is like. There's a lot to learn out there, and all of it is very interesting. Find the area that interests you the most, then get out there and start talking to home owners. Don't be discouraged if you're getting turned down a lot - just remember that when it does pay off, it will pay off big! Adem Hamidovic is a part time real estate investor and operator of www.profitpiggy.com, a website devoted to new and experienced real estate investors alike.
MORE RESOURCES: L.A.’s Real Estate Upfronts Reveal Penthouse A at Rosewood Residences Beverly Hills Hollywood Reporter Real estate mogul cautions about avoidable mistake when buying a home, explains how to avoid 'drowning' Fox Business Coloradans negotiating lower fees for real estate agents with new law on horizon Colorado Public Radio Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties May 19, 2024 edition MassLive.com Routt County real estate sales at $17.6M for May 9-15 Steamboat Pilot & Today Rudy Giuliani Slashes Price on His New York City Apartment to $5.7M Realtor.com News Real estate transfers: May 17, 2024 RiverheadLOCAL London Real Estate Is About to Get the ‘Selling Sunset’ Treatment Hollywood Reporter Mid-May Greenwich Real Estate Market Report Greenwich Sentinel Real Estate Newsletter Articles this Week: Housing Starts Increased to 1.360 million Annual Rate in April Calculated Risk Dodge County Real Estate Transfers Fremont Tribune The Michael Houck Real Estate Guide for May 19 Oil City News MCB Real Estate Revives Long-Awaited Viva White Oak Mixed-Use Project Source of the Spring Washington state ahead of the game as lawsuit rewrites real estate commission rules - Puget Sound Business Journal The Business Journals Yes, there are other coastal Delaware towns besides Rehoboth Washington Blade Dutchess County, NY real estate 2024: What's on the market for $579K Poughkeepsie Journal Baltimore real estate: 4 waterfront condos for sale The Baltimore Banner Home Prices Hit Record Highs in April 2024: Trends & Forecast Norada Real Estate Investments STAR resource center Department of Taxation and Finance Real Estate Briefs: Lakeside homes, news condos, and more news Rough Draft Atlanta REAL ESTATE | UPDATE | Johnson Bus selling lot for new West Bend Fire Department No. 1 washingtoncountyinsider.com VIDEO | REAL ESTATE | Construction finally underway for Taco John's in West Bend, WI washingtoncountyinsider.com Revolution in real estate: How the NAR settlement is changing the game Eden Prairie Local News James Quinn's Data Center Advisory Expertise at JLL Drives Innovative Real Estate Solutions for Global Corporations Markets Insider Oceanport's Denholtz recognized by commercial real estate organization themonmouthjournaleastern.com Westmoreland County Real Estate Transfers | Real Estate | latrobebulletinnews.com latrobebulletinnews.com OT Real Estate Spotlight of the Week: 2115 Sheridan Place The Owensboro Times Innovative Leaders Vanderstraaten and Rohrman Inducted into North Texas Commercial Real Estate Hall of Fame ... dallasinnovates.com Here are recent property transfers up to $1.28 million St. Albans Messenger Real Estate Mogul Grant Cardone Closes Largest All-Cash Multifamily Deal In South Florida This Year Yahoo Finance Billy Joel spends over $10M for sprawling East Hampton pad with horse farm, neighbors other A-listers New York Post Robert Willett may be targeting female Realtors in Northeast Ohio Akron Beacon Journal My Co-op Neighbor Never Pays His Maintenance on Time. Can We Make Him? The New York Times China Says It Will Start Buying Apartments as Housing Slump Worsens The New York Times Navigating Northern Virginia Real Estate: An Insight Into Rhonda Campbell's Bespoke Approach Grit Daily Refined Real Estate: Unique Leschi home with lake views lists for $1,395,000 seattlerefined.com Number of homes for sale in Metro Atlanta increased significantly, real estate brokerage says – WABE WABE 90.1 FM Real Estate Transactions for May 18-19 | News, Sports, Jobs Nashua Telegraph What's real estate wellness? Fortune Ellison sues real estate broker Chad Banken over alleged schemes involving contracts for deed Star Tribune Billionaire Frank McCourt raises his hand to buy TikTok Business Insider Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 KKR Real Estate Finance Trust Inc. (NYSE:KREF) Given Average Recommendation of “Moderate Buy” by Analysts Defense World Sean Bloom Investments Announces $2B Real Estate Project in Las Vegas InvestorsObserver Do starter homes still exist? Here's what NJ realtors said NorthJersey.com Edgefront Real Estate Investment Trust (TSE:NXR) Forecasted to Earn FY2024 Earnings of $0.73 Per Share Defense World Berkshire County Real Estate Transactions for April 29-May 3 Berkshire Eagle First Capital Real Estate Investment Trust (TSE:FCR.UN) Share Price Crosses Above Two Hundred Day Moving ... Defense World Bienville Realty: Commercial real estate Fox 10 News Letter: Clarifying changes to real estate industry Morgan Hill Times EG Real Estate: 18 Opens This Weekend – East Greenwich News East Greenwich News Local couple buys Pat Burrell's former Center City penthouse for 38% under original asking price Philadelphia Business Journal Home listings are on the rise in southern Colorado, while other indicators show a slowing real estate market Colorado Public Radio Did Fort Worth’s real estate market really ‘bottom out’? | Fort Fort Worth Star-Telegram Southern fast-food chain Cook Out buys Tampa real estate Tampa Bay Business Journal New Rules for North Texas Real Estate Agents Creates Uncertainty Dallas Observer Artis Real Estate Investment Trust (OTCMKTS:ARESF) Sees Significant Growth in Short Interest Defense World Busch relative settles squabble with Clayton investors over real estate trust St. Louis Post-Dispatch |
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