Are you interested in the lucrative estate real market? Have you watched the Do-It-Yourselfers on TV who purchase a home, renovate or upgrade, then resell it for a profit of more money than most people make in a year?
It sure is tempting, but what are the pitfalls of estate real? What should a new investor know BEFORE putting money into real estate?
There is one mantra that successful real estate investors live by: "buy low - sell high". How can you apply this to your investment strategy?
DON'T GET OVERSOLD
New investors can easily get caught up in the sale. Without experience or a background in real estate you may think your instincts are good and quickly get in over your head.
Investment properties need to be undervalued and YOU need to do your research first. Don't plan to buy without spending a lot of time comparing values. Your goal is to purchase an undervalued property which can take time and experience to spot.
The best way to determine the true value of a property is by comparing similar properties and noting the common features. The properties MUST be in the same area since location can drastically affect price range.
Take note of the features and failings of each property, how long they're on the market and the price they sell for. Once you have a good understanding of the value of properties you will be able to tell when a property is undervalued - perhaps because a quick sale is needed or the seller is inexperienced. Don't hesitate to barter for the best deal possible.
KNOW YOUR MARKET
You're not buying for yourself so spend time noting the trends in the market. You can often find data in the local real estate papers listing the percentage of growth for various properties in the area over the past year.
Keep an eye on what's moving quickly through the market and what features are promoted in new constructions. You can use this information to make your upgrades as market friendly as possible.
Be careful not to make the mistake of renovating to your personal tastes. Use neutral palettes and current styles to appeal to the broadest market.
KNOW YOUR BUDGET
The more time you spend researching the costs of your venture, the higher the profits you will see. Know how much you can spend, the price of materials and labor and the time frame to have it completed. Some experts would tell you to double or triple that amount. In any case, the more research you do the more accurate your budget will be.
Don't get swept away in the process either; concentrate on the most profitable renovations. Kitchens and bathrooms are important. Adding French doors or updated lighting can also be a good investment. A fresh coat of paint is a must.
Investing in real estate is a financial business. Plan your investment like a business; make well researched decisions, stick to a budget, don't let personal preferences get involved, and you're ready to make some money!
- Related Videos
- Related Articles
- Ask / Related Q&A
- Real Estate Commercial Loans
- Real Estate Marketing And Real Estate Seo
- Get the best deal for Commercial Real Estate Equity Loan
- real estate development loans
- Top Seven Real Tips For Your Real Estate Education
- Real Estate Investment Loans
- What are Real Estate Investment Loans
- The Basic Features of Real Estate Investing Loans




Technology Job Q&A
By: jobfaq | 17/11/2009A.A.S Computer Information Systems Jobs? Could anyone please give me a list of job and entry-level salaries that I could have next to a fresh out of college associate degree in computer information systems. With the reduction the way it is now I afraid it will be tough for me to find a descent job so any help would be appreciated.
Marketing Sales Job FAQ
By: jobfaq | 17/11/2009Abercrombie & Fitch Impact Team (London)? I've recently been offered a employment at abercrombie and fitch on the impact team, I wondered what tasks that I would be doing if I was to adopt the offer and also how much they pay, per hour. I would also resembling to know if anybody who started off in the impact squad made it as a model Thanks in advance.
Law Legal Job FAQ
By: jobfaq | 17/11/2009A quiz give or take a few my take-home pay? I am a salaried employee who works a compressed shift of three twelve hour days. My employer only pays me for 36 hours but I reckon since I am on salary I should get compensated for 40 since I am not missing any time due to sickness or such.
Health Care Job Q&A
By: jobfaq | 17/11/2009A friend who signed a contact to be a travel nurse contained by Canada and dosent want to stir what can she do? my friend signed a contract to go to work in Canada as a Nurse and immediately she dosent want to go she says she cant go and get out of it unless she becomes ill or home does. and if she just dosent go etc they can put restrictions on her nursing lic. is this true? any thinking on how to get around all this? HELP!
Government Job Questions & Answers
By: jobfaq | 17/11/2009Am i qualified to enter the management service even if i not civil service passer? am i qualified to be in the government service even if i'm not civil service passer of the phillipines?i'm a irrevocable employee for almost 10 year. there is a rationalization. am i be artificial or be terminated in the government?
Food Service Job FAQ
By: jobfaq | 17/11/2009A apposite blasé work for a 16 year ancient? I am 16 years old and am looking for a casual commission. I live in Australia and currently work at KFC. I really don't like my commission because it's really stressful and disgusting. I also don't like the $6.80 an hour. Where is a good place for a minor to work? What is the pay?
Financial Services Job Q&A
By: jobfaq | 17/11/2009AA or BA surrounded by Photography? I have a couple different questions. 1.) I am currently working towards an AA contained by Photography. But what jobs will be available to me once I recieve this degree? 2.) Would it be worth further teaching to recieve a BA? If so, would anything else be available to me career wise?
Hair Stylist Jobs
By: Rachel Williams | 17/11/2009Hair stylist is an interesting and creative person. He/She is a expert in this field; known to dress hairs according to the latest fashion and personality of a person. They perform an important role like chemical treatment, scalp treatment, different cuts and styles to enhance the look of a client. In...
Get What You Want in 7 Powerful Steps
By: John Long | 19/03/2007 | Goal SettingIn my most recent columns weve covered issues about improving your business and marketing, but today lets start right at the beginning.
Tips for Investing in Real Estate
By: John Long | 29/08/2006 | Non-FictionBeginning a hobby or career in real estate investing doesn't have to be so complicated or such hard work if you will only begin with what you have, right where you are at this moment.
Tips For First Time Home Buyers
By: John Long | 29/08/2006 | Non-FictionFirst time home buyers face many challenges in understanding the process of purchasing a home, obtaining a mortgage, and knowing which type of loan will best suit their needs
The Saga of a Mortgage Lender
By: John Long | 29/08/2006 | MortgageWhen the going gets tough and the tough just keeps on going, mortgage lenders may seem like godsend angels at your doorstep.
Repay Your Mortgage As Slowly As You Want
By: John Long | 24/08/2006 | MortgageFor years, banks and financial advisors have been recommending that you pay extra cash into your mortgage, to cut down the huge interest amount and reduce the period over which you pay back the loan.
When Does it Pay-Off to Obtain a Home Mortgage?
By: John Long | 07/08/2006 | FinanceIf you are in dire need of money and don't have the financial means for a large cash transaction to buy a house, then opting for a home mortgage is worth consideration.
#1 Strategy for Profitable Real Estate Investing
By: John Long | 14/07/2006 | CareersAre you interested in the lucrative real estate market? Have you watched the Do-It-Yourselfers on TV who purchase a home, renovate or upgrade, then resell it for a profit of more money than most people make in a year?