Real estate investing is
one of the most attractive ways of making good money (that is if you do it
correct). Moreover, real estate investing is also a lot of fun. A lot of people
Prentice real estate investing as their core profession and, in fact, make a
lot of money that way.
Real estate investing is
really an art and, like any art, it takes time to master the art of real estate
investing. The key, of course, is to buy at a lower price and sell at higher
price and make a profit even after paying all the costs involved in the two (buy/sell) transactions. Generally, people are of the opinion that real estate
investing makes sense only when the rates are on the rise. However, real estate
investing for profits is possible just about any time (and as I just said, real
estate investing is an art). Here is a list of tricks that can 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 price that is much lower than the prevailing market rate. You can then make
arrangements to sell it at the market rate over a short period of time.
However, make sure that the property is worth the price you are paying.
2) Looking for old listings: The old listings that are still unsold may provide you with good real
estate investing opportunities. 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 bit of negotiation you can get the property for a real low price.
3) The hidden treasure: A really old (and dirty) looking house may scare off buyers. But this might be your chance for real estate investing that can yield good profits. So, explore
such properties and check if spending a bit on them can make them shine. You
can get these at very low prices and make a big profit in a short time.
4) Team up with attorneys: There are a number of attorneys who handle property sales on behalf
of sellers or in special circumstances (like the death of the property owner).
They might sometimes be looking to dispose off the property rather quickly and
hence at a low price. Be the first one to grab such real estate investing
opportunities and enjoy the profits.
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.
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