The secret to success in real estate investment is finding
bargain properties that you can "flip" quickly for a profit.
Here are a few ideas for becoming a successful investor:
1) Obtain sound advice from investors who are already
successful. Friends and realtors can refer you to folks who
have proven investment track records.
2) Define your investment goals. Do you want to buy a home to
live in, to fix and sell, or to hold for your future?
3) Read real estate investing books and articles, attend
workshops and seminars, while AVOIDING out-of-date
infomercials.
4) Choose a lender with great service, a good closing record,
and fair costs, and get preapproved for financing.
5) Define your target locations, and become an expert. Study
real estate newspaper sections, pick up sale flyers, and note
sales prices in your target area.
6) Interview real estate agents and learn from them, but don't
sign any agreements that will limit your search for bargain
properties. You're looking for agents who know your target
market thoroughly and will work hard to find properties for
you.
7) Find a good escrow officer and use them for every
transaction. They'll know your needs and will quickly learn
how to expedite your transactions.
8) Study home remodeling techniques by reading design
magazines and books. Learn the cost of materials, supplies,
and building trades by visiting home improvement warehouses
and talking with remodeling professionals.
9) Make many offers on properties, including bidding on HUD
repos, asking for great terms and concessions from sellers.
The more offers you make, the greater your chance of success.
10) Always have your transformation in mind. Have a plan for
what will turn a doghouse into a dollhouse. It will speed
turnaround time and save you money on mortgage payments.
Copyright. 2004. Jeanette Fisher. All Rights Reserved.
Professor Jeanette Fisher, author of Doghouse to Dollhouse for
Dollars, Joy to the Home, and other books teaches Real Estate
Investing and Design Psychology. For more articles, tips,
reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
Article Source: http://EzineArticles.com/
June 2:
