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Six Tips For Beginner Real Estate Investing
Winston Rowe & Associates has prepared this information to provide beginner residential real estate investors with important tips for real estate investing.
By: Winston Rowe & Associates
When experience is important to your real estate success, contact Winston Rowe & Associates, a principal is always available to speak with prospective clients. They can be contacted at 248-246-2243 or by email at email@example.com
They provide an array of commercial real estate financing solutions. Check them out online at http://www.winstonrowe.com
According to the AAOA real estate is more than buying or selling a home. The current market reflects high demand for quality rental options and the growth of equity in properties for owners. These are just two reasons why real estate is a viable investment option.
If residential real estate investing interests you, here are six points to consider before jumping in.
There are two types of investing. You can invest to rent or flip a property. Different strategies are involved depending on what you plan to do with the property. Similarly, you need to begin with the end in sight. Before writing an offer, have an exit plan from that property in mind. If you plan to flip the property, what is your time line for completing work and having the property back on the market? If you plan to rent, how long do you plan to hold that rental?
Be conservative with your first investment project and take less risk in the beginning. You may not earn as much profit initially, but you’ll gain good experience, hopefully without costly mistakes.
Avoid the hot markets. That may seem counter intuitive, but here’s why it’s true. You’ll be up against stiffer competition in these markets. Seasoned investors with narrow profit margins like to play in the hottest areas, and they can likely risk paying top dollar for a property.
You don’t know what you don’t know, which is why you must do your research first. Establish a network of experts, including contractors and Realtors.
Do the math. Run the numbers and know your maximum high price to make the property a good investment. Make sure you have an accurate number, whether you are rehabbing or renting. Then consider the associated costs, such as the cost of holding the property and the cost of disposing of or selling the property.
Just as I would tell a client in search of a residential property, don’t skip the inspection. I repeat, do not skip the inspection. Even if you’ll be rehabbing the property to flip it, a thorough professional inspection will provide a basis for where to start and may uncover potential problems.
With the right guidance, real estate is a great investment. A Realtor can assist you through the process, provide answers and help you keep your investment a profitable one. Remember, no deal is a good deal if you lose money.
Winston Rowe & Associates best business practices process ensures that their clients receive lighting fast funding with the most aggressive rates and terms available, while managing every step of the financing process from document collection to commitment negotiation and closing.
Winston Rowe & Associates provides no upfront or advance fee commercial funding solutions in the following states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming