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Real Estate Investing Requires Education
I really believe in getting an education in real estate investing, especially before launching a real estate investing career. I have been investing in real estate for 25 years, but I still spend thousands of dollars each year to learn more about real estate investing. To avoid unnecessary risks, you need to know as much as possible. If you make a wrong move in buying, managing or selling your property, you can lose everything, and your efforts will be flushed down the toilet. On the other hand, if you have what I call know-how savvy, you can weather almost any of the financial storms that will inevitably brew around your real estate investing venture. Here are some of the critical essentials to make real estate investing pay off. 1.You've got to have a solid overview of the business. You just can't go out and start making offers - even if you have some money. I guarantee you'll lose your money if this is your approach. Don't think that fixing up houses is a piece of cake. You've got to know what you're doing. 2.You've got to have a good contract. Picking up a crinkled ole contract document from your friendly real estate agent won't cut it. Most contracts are NOT written to give you the slight edge as a real estate investing professional. A good contract means the difference in walking away from a closing with money out of your pocket or in your pocket. I have taken home thousands and thousands of dollars from closings - up to $75,000 from my best closing on just a cheap little house. But a fistful of bills at closing is not your only reward for having a good contract. You can get your seller to take care of some or all of your closing costs if you have a good contract. And you can avoid some of the usual buyer costs if you have a good contract. Have a good BUYER'S contract as a real estate investing professional. 3.You've gotta have a good working model as a pattern for your fix-up project. If you have never tackled the job of remodeling or even fixing up a house, you don't have any idea what needs to be done and what should NOT be done. Let me tell you from experience, you will be tempted to spend far more than necessary if you want the perfect house to sell. I know, because my wife is always suggesting what we need to do to our houses. Sometimes she is right, but often she wants to dress up a house with items that do not bring return on investment. It's a very thin line of distinction. You need a model for your fix-up project to establish a working formula. Let's face it. You can spend a bank full of money in fixing up a cheap little house. And it's easy to over-spend with money you will never get back. But, on the other hand, if you don't spend the right money on the right things, no one will buy your house. The margin of difference is close. 4.You have got to put on the hat of salesman when you get into this real estate investing business. Your remodeled house will not sell itself. You have to polish to a spit-shine, and make the finished appearance of your house come off as the most desirable house in the neighborhood. Don't fix up a cheap little house if you are unwilling to show it and sell it. You will lose a big chunk of your profit if you have to list it with a real estate agent. It's O.K. to sell your makeover house through a real estate agent if you feel deficient as a salesman. But it is important to see your house AS a salesman in order to do your best job. The key to success in real estate investing is in knowing what you are doing when you sell. 5.Real estate investing is a business. Real estate investing is not a hobby and it's not a game. It is, however, a slam-dunk, dead-serious, rock-solid way of making money when you learn the ropes. And it just may be the easiest way you have ever earned a living. But you have to know what you're doing. You can make money investing in real estate,but you must learn how to do it right. http://CashinHouses.com/ Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report http://CashinHouses.com/ Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online "Academy of Advanced Real Estate Investing Techniques" - http://AAREIT.com/
MORE RESOURCES: Prologis Warns of Slowing Industrial Real-Estate Market The Wall Street Journal Mortgage Rates Top 7% As Housing Market Slumps The Wall Street Journal Who's Had a Harder Time Buying a Home: You or Your Parents? The New York Times Office market collapse: Commercial foreclosures spike 117% in a year Business Insider 21 Largest Real Estate Companies in the World Yahoo Finance Banks' Commercial Real Estate Risks Are Uneven Federal Reserve Bank of Kansas City Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate The Wall Street Journal Inked: Recent LI real estate deals Long Island Business News TikTok’s Origin Story: Court Files Show Role of GOP Megadonor Jeff Yass The New York Times Blackstone Earnings Rise as Investment Giant Projects Commercial Real Estate Recovery - CoStar Group Motley Fool: Investors could trust real estate The Spokesman Review Real Estate Minute – 04-18-2024 KFDX - Texomashomepage.com Real Estate Transactions: April 19, 2024 The Recorder 'It was surprising.' Metro Detroit man caught up in real estate scam; here's how to protect yourself WXYZ 7 Action News Detroit Real Estate Balance Announces Chair CoStar Group Real Estate Briefs | April 19 | News, Sports, Jobs Cape Coral Breeze Real Estate: Q1 2024 - Coronado Real Estate Market Update Coronado Times Newspaper Southeastern Wisconsin industrial real estate market softens in Q1 BizTimes Milwaukee Inside PROFILEconnect 'A Night at The Museum' Real Estate Impact Conference at the Coral Gables Museum PROFILE Miami Google's Strategic Job Cuts Reflect Ongoing Cost-Cutting Measures, Affecting Real Estate and Finance Departments Yahoo Finance Bronx real estate sales drop across the board, though spring market may be more active: report – Bronx Times Bronx Times 'A Man in Full,' starring Jeff Daniels as an Atlanta real estate mogul, dropping May 2 FOX 5 Atlanta S.F. housing market: Still very few homes, selling even faster San Francisco Chronicle Inside Savannah Homes: $6.475M Historic Monterey Square home Savannah Morning News Will It Be a Pricier Housing Market in Spring 2024? Norada Real Estate Investments Mixing real estate & renewable energy to help build greener world NoCamels - Israeli Innovation News EquityMultiple Bullish on Industrial Real Estate Sector, Brings Opportunity to Individual Investors Newswire The Real Estate Top Performers share tips for buying or selling a house in today's market! WUSA9.com Why you might not need a real-estate agent when buying a home Business Insider Blackstone Real Estate Earnings up 15% in First Quarter The Real Deal Documentary shows roots of segregation were planted in Chicago Tribune AI in real estate discussed during virtual forum Westfair Online WHO?! This Southern Utah Town Is A Real Estate Hot Spot! Cat Country 107.3 and 94.9 Shelter Island Reporter real estate transfers: April 18, 2024 - Shelter Island Reporter Shelter Island Reporter Palm Beach home-sale median price up sharply, new Q1 reports show Palm Beach Daily News Boise Real Estate Market Steady Amidst California's All-Time Low KIDO Talk Radio High Country Real Estate: First Quarter 2024 High Country Press Celebrity real estate agent Mauricio Umansky explains when housing prices will come down Fox Business ‘It doesn’t smell right.’ Michigan councilman linked to $69,000 marijuana real estate sale MLive.com Tiny California home the size of a hotel room will sell for 'considerably' more than its $1.7M asking price New York Post Real estate: Buyer’s agents’ role in today’s real estate market Main Street Media of Tennessee Will Hilton Head real estate pricing rules change this summer? Here’s what’s in play Hilton Head Island Packet Real estate mogul concerned how Americans will deal with squatters: ‘Something really bad is going to happen’ Fox Business A new real estate trend? Shopping malls converted into residential units in South Florida NBC 6 South Florida China home prices slumped in March as property crisis drags on Business Insider Fannie Mae, Freddie Mac clarify real estate commission rules National Mortgage News Retirees: Is it time to downsize, even in this real estate market? Effingham Daily News Homes for Sale in Manhattan and Queens The New York Times Top residential real estate sales for April 1-5 in Sarasota, Siesta Key, Palmer Ranch, Osprey, Nokomis Your Observer Homes for Sale in New York and New Jersey The New York Times |
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