16 Tips to Buy Real Estate Successfully by D.S Peter
1. Do not overanalyze. You may lose a lot of great opportunities
to make great deal of money. Start making offers. 2. Get the
property under a contract first with a safety clause. 3. Ask
fellow investors, real estate broker about the property value.
If it makes sense go ahead with the purchase. 4. If you are
buying for a quick flip neighborhoods do not matter. What
matters is the $$$ you are going to make. 5. Your perfect buy
should be a house/condo/building in excellent condition and in a
good neighborhood. 6. Your Second choice should be a cosmetic
fixer in a good neighborhood. 7. Inspect the property. Try to
get as many things fixed by the seller as possible. Check the
neighborhood. Drive around the block. Look at the houses in the
neighborhood, what is their condition. Look at the cars parked
in the street. Old cars normally can tell you a lot about the
neighborhood. Trash on the sidewalks can spell less then great
neighborhood. Which in turns means you should buy and sell
quickly (most of the time). Renting in those neighborhood could
be challenging, especially for the new investor. 8. Use a real
estate agent or broker. My first great deal was found by a
broker. Try to get access to the MLS so you can look for deals
yourself. 9. Shop around for Financing. My experiences with the
loan officers tells me one thing. Email them your questions and
ask them to email you back their answers or put them on paper.
They tend to always change terms and rates (though illegal), and
put junk charges. 10. Try to reduce your Title/Escrow charges
review them with an experienced investor or real estate agent.
11. Use a real estate attorney for your
foreclosure/pre-foreclosure purchases. 12. You can check these
free Real Estate Investing Educational sites:
http://www.realestate-investinginfo.com/ and
http://www.buying-investment-property.info/. Read as much as you
can from them. 13. Make connections with other fellow real
estate investors. You can learn great deal first hand experience
from them. One peace of advice alone could be worth thousands
for you. So if you like challenges and lifetime learning Real
Estate Investing is a great field to work and have fun. 14.
Advertise yourself. Get business cards hand them to interested
people. Place ads in the newspaper and use whatever other means
of advertising you can think of. 15. Use the right Real Estate
Forms when you buy and sell. If you don't have any forms here is
a website you can print forms for free:
http://www.realestate-agentsinfo.com/ 16. Do not be afraid to
buy real estate. Fear and lack of knowledge are the number one
factor for failure.
Good luck!
About the author:
Copyright © D. S. Peter is a successful real estate investor for
over 14 years.
This article can be published by anyone as long as the reference
box remains intact and all links are kept live.
