5 tricks to make it big with real estate investing
When it comes to reliable investments, real estate investing is the best wealth-builder in the world. Real estate investing is one of the most magnetic ways of making good money (that’s if you do it correct). Moreover, real estate investing is also more fun. Several people practice real estate investing as their core profession and, in fact, make more money that way.
Real estate investing is actually an art and, like any art, it takes time to master the art of real estate investing. The key, naturally, is to purchase at a lower cost and sell at higher cost and make a benefit even after paying all the costs involved in the two (purchase/sell) transactions. Normally, people are of the belief that real estate investing makes sense only when the rates are on the rise. However, real estate investing for benefits is possible just about any time (and as I just said, real estate investing is an art). Here is a list of tricks that may make real estate investing profitable for you:
1) Look for public auctions, divorce settlements and foreclosures (bank/FHA/VA): Since quick settlement is the preference here (and not price), you might get a property at a cost that’s much lower than the prevailing market rate. You may then make arrangements to sell it at the market value over a short time period. However, be sure that the property is worth the cost you’re paying.
2) Looking for old listings: The old listings that are still unsold may provide you with good real estate investing chances. Just get hold of an old newspaper and call up the sellers. They might have given up hope of selling that property at all and with a little of negotiation you may get the property for a real low cost.
3) The hidden treasure: A actually old (and dirty) looking house may scare off purchasers. But this might be your chance for real estate investing that may yield good benefits. So, explore such properties and check if spending a little on them may make them shine. You may get these at very low costs and make a big benefit in a short time.
4) Team up with lawyers: There are a number of lawyers who handle property sales on behalf of sellers or in special circumstances (like the death of the landowner). They might sometimes be looking for dispose off the property instead quickly and hence at a low cost. Be the first one to grab such real estate investing chances and enjoy the benefits.
5) Keep tab on the newspaper announcements: Property sell offs due to deaths, divorce settlements, immediate cash requirements and other reason are frequently announced in local papers. Keep track of such real estate investing avenues.